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Ryanair to 'break even in 2009'
Monday 2nd June 2008
Budget airline Ryanair says it expects to only break even next year if oil prices stay near $130 a barrel, as it revealed a 20% rise in annual profit.
Net profit before one-off items rose to 480.9m euros ($748m; £381m) in the 12 months to the end of March, compared with 401.4m euros a year before.
It said it could absorb high oil costs even if profits fell in the short term.
Rising oil prices and an economic slowdown have raised concerns about the profitability of airlines.
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