Ryanair is expected to report a small loss tomorrow when it releases its third-quarter earnings. Unusually bad winter weather has taken some of the shine off a strong first half for the low-cost airline. Profit for the full year is still expected to approach €400m. Ryanair has used the last year to restructure its bases around Europe to further improve its cost base. Analysts believe a stronger network will produce strong earnings in years to come. The impact of fuel costs remains something of an unknown, however. The company will have to improve yields to offset higher prices. With more efficiency on the deployment of aircraft to cheaper bases, revenue per plane could help make up the difference.

Ryanair announces third-quarter results tomorrow