Ryanair saw its second quarter earnings drop by 21% due to strong price pressure. The company blames this on lower ticket prices and higher fuel and personnel costs. According to CEO Michael O'Leary, ticket prices are still under pressure in the current quarter.

In order to defend its market share, Ryanair, Europe's largest price fighter, has cut prices for airline tickets in recent months. Although the number of passengers transported increased by 11%, this was at the expense of profit. 

Ryanair expects an order for Boeing 737 MAX aircraft to be further delayed. The Irish airline was expecting to get the first five of 58 aircraft ordered in December, but has now adjusted it to January. Due to this delay, the budget airline expects to have only thirty new 737 MAXs in use next summer. That is expected to save Ryanair by 5 million passengers in the coming fiscal year.

Especially in the British market, hit by Brexit concerns, Ryanair had a tough time, as in Germany where Lufthansa started a price war with the recently acquired industry peer Air Berlin.

Also read: Problems at Boeing have major consequences for price fighter Ryanair