Summary Box: Ryanair’s 1Q profit falls 24 pct over volcano losses, fuel costs _ but beats view

Summary Box: Volcano clouds Ryanair’s 1Q profit

PRETTY SMOOTH LANDING: Despite booking losses of at least $65 million on the Icelandic volcano and shelling out more for fuel costs, Irish budget airline Ryanair’s first-quarter earnings still topped expectations.

THE BOTTOM LINE: Ryanair’s net income dropped 24 percent to 93.7 million euros ($121.8 million). Income from ticket sales rose 14 percent to 692.9 million euros, and revenue from the carrier’s myriad extra fees rose 23 percent to 165.3 million euros.

ANALYSTS’ TAKE: Most had expected Iceland’s Eyjafjallajokul volcano to do more damage to Ryanair’s bottom line. Many believe the low-cost airline is well-positioned to serve summer sun spots, particularly in Spain, where it has boosted operations from Barcelona to the Canary Islands.