# Friday, August 1, 2008

Ryanair have abandoned plans to raise ticket prices and will instead cut them by 5%. The news comes as the company admitted the sales outlook has worsened since June. They fear that customers are more likely to turned away by costlier flights. The cuts come at a time when Ryanair is experiencing an 85% plunge in profits in the first quarter and a 15% drop in its share price.