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Irish budget airline Ryanair blamed higher interest rates and low consumer confidence after finding demand was not as intense as anticipated in April, May and June.
The Ryanair CEO worries that consumer confidence might be lagging ahead of the crucial summer season, and he may have a point.
Irish no-frills carrier Ryanair on Monday said group net profit jumped a third to 1.92 billion euros in its financial year as higher demand and fares offset ballooning fuel costs.
The low-cost airline said it is to get "modest compensation" from Boeing for aircraft delivery delays.
Airline profits soar by 34% as passenger numbers rise 9%