Ryanair slides into loss in third quarter

Irish no-frills airline Ryanair said Monday that it sank into a net loss in the third quarter of its financial year, and blamed falling fares and the weaker British pound. Losses after taxation stood at 35.2 million euros ($47.5 million) in the three months to the end of December, Ryanair said in a results statement. That contrasted with a net profit of 18.1 million euros in the same period a year earlier. "Our third-quarter loss of 35 million euros is in line with previous guidance and is entirely due to a 9.0-percent fall in average fares and weaker sterling," said chief executive Michael O'Leary.