RYANAIR's full year profits have fallen 29% to 1.02 billion Euro (£890 million), the company said.
The low cost airline company saw traffic growth of 7% , but a decline in fares of 6% in the year to March 31.
Revenues at the low-cost airline grew 6% to 7.56 billion euros (£6.6 billion) over the same period.
Michael O'Leary, chief executive of Ryanair, said: "As previously guided, Ryanair (excluding Austrian low-cost airline Lauda) reports a full year after tax profit of 1.02bn euros (£890 million).
"Short-haul capacity growth and the absence of Easter in Q4 [fourth quarter of the year] led to a 6% fare decline, which stimulated 7% traffic growth to over 139 million (142 million guests including Lauda).
"Ancillary sales performed strongly up 19% to 2.4 billion euros (£2.10 billion), which drove total revenue growth of 6% to 7.6 billion euros (£6.6 billion)."
The company also said it had delayed the delivery of five Boeing 737-Max aircraft until winter.
It said: "We continue to have utmost confidence in these aircraft which have 4% more seats, are 16% more fuel efficient and generate 40% lower noise emissions."
The board of the company has also approved a 700 million Euro (£610 million) share buyback which will commence later this week and run over the next year.
Two Boeing 737-Max aircraft crashes - one in Ethiopia in March and another in Indonesia in October - killed 346 people, leading to the aircraft being temporarily grounded.
Ryanair is expecting "broadly flat group profits" into the financial year ending in 2020, when their reporting will include Lauda in the consolidated Ryanair Group.
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