1. ITV Report

Another Brexit warning from Ryanair - as profits soar

Ryanair says flights could be grounded if the UK does not reach a deal with the EU before Brexit. Credit: Press Association Images.

Stansted-based airline Ryanair has issued another stark warning about Brexit - while posting a jump in profits.

The low-cost carrier reported a 13% rise in revenue - to €1.9m in the three months to June 30. Profits soared 55% to €397m while customer numbers increased by 12%.

The company, headed up by Michael O'Leary, says it was boosted because of the timing of the Easter break.

Ryanair Chief Executive Michael O'Leary. Credit: Press Association Images.

But it is warning profits are likely to fall by 5% over the first six months of the year and by 8% in the second half.

Ryanair again sounded the alarm bell on Britain's divorce from the EU - warning fights could be grounded if ministers failed to strike an aviation deal before March 2019.

"While we continue to campaign for the UK to remain in the EU Open Skies agreement, we caution that, should the UK leave, there may not be sufficient time, or goodwill on both sides, to negotiate a timely replacement bilateral which could result in a disruption of flights between the UK and Europe for a period of time from April 2019 onwards.

"If we do not have certainty about the legal basis for the operation of flights between the UK and the EU by autumn 2018, we may be forced to cancel flights and move some, or all, of our UK-based aircraft to Continental Europe from April 2019 onwards."

– Ryanair spokesman.