Ryanair denounced as 'baseless' a 255 million euro fine by Italy's competition regulator

Ryanair denounced as 'baseless' a 255 million euro fine by Italy's competition regulator

 Paul FAITH

Irish no-frills airline Ryanair on Monday announced an 80 percent drop in net profit for its third quarter, impacted by a hefty fine from Italy's competition authority.

Profit after tax stood at 30 million euros ($36 million) in the three months to the end of December compared with 149 million euros in the period a year earlier, the Dublin-based carrier said.

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