🔻 Irish low-cost airline Ryanair said on Monday that its net profit in the second quarter of the company’s fiscal year fell by six percent.

Ryanair cited increased fuel costs due to the war in the Middle East as one of the factors behind the decline in profits.

The company says that after tax, its profit for the three months ending in late September reached 1.61 billion euros (1.8 billion dollars). In the comparable period last year, the figure was 1.72 billion euros.

Ryanair, which is Europe’s largest airline by passenger numbers and mostly flies on routes within this continent, said that the fuel costs not covered through advance purchase contracts have risen sharply due to the war between the United States and Iran.