Ryanair sees fiscal profits fall by 31%

Ryanair Holdings Plc, Europe's biggest discount airline, said fiscal second-quarter profit fell 31 percent as rising fuel costs crimped earnings and the carrier lowered fares to attract travelers.

Net income for the three months ended Sept 30 dropped to 185.8 million euros from 268.9 million euros a year earlier, the Dublin-based airline said in a statement.

Analysts had predicted profit of 182 million euros.