Europe's largest carrier by passengers said earnings for the year ending March 31 fell to 1.02 billion euros ($1.14 billion) from 1.45 billion euros the previous year. Strong 7% traffic growth was offset by a 6% decline in fares.
Boeing grounded its 737 MAX planes after two crashes raised concerns about flight-control software. It said last week it has finished updating the software, though it remains unclear when the grounding will end.
Ryanair had wanted to use the fuel-efficient planes to cut costs. But it delayed delivery of its first five Max planes until the winter so those savings won't happen until 2021.
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