Ryanair predicts sharp fall in 2013 profits

Ryanair has said it expects its annual profits this year to drop sharply.

The airline said despite making a profit of €602m in the key summer months, its losses over the winter will be greater than expected.

It now expects a profit of about €510m for the year to the end of March next as a result of increased price competition, softer economic conditions in Europe and currency movements.

The airline has also announced it is to begin allocating seating from February next year.

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