Let’s face facts: It has become nearly impossible to monitor Ryanair’s economic model or to predict what’s going to happen to Europe’s lowest-fare airline in the next few years. The key question is how to determine whether the Ireland-based carrier can remain profitable in the face of declining traffic growth. In March, the airline carried 5.5 million passengers, a surprising 4% decrease. And, in the past 12 months, its traffic increased a relatively weak 5%. Clearly, this is no longer the ...

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