Irish budget airline Ryanair reported its lowest profit in four years on Tuesday, with profits set to fall further next year as the company faces pressure from Brexit, Boeing 737 Max delays and overcapacity, Reuters reports.

Profit after tax, adjusted for losses in the startup Laudamotion, was EUR 1 billion (1.5). The company had guided for a profit of EUR 1-1.1 billion. 

Ryanair has issued several profit warnings during the year. 

The airline forecasts a profit including Laduamotion of 750–950 million euros for the upcoming financial year.

It also appears that the Ryanair board has approved a buyback program worth 700 million euros.

Source: finwire