Ryanair chief executive, Michael O'Leary, said: "Short-haul capacity growth and the absence of Easter in quarter four led to a six per cent fare decline, which stimulated seven per cent traffic growth, to over 139 million".
Ryanair had wanted to use the fuel-efficient planes to cut costs.
Ryanair, which operates more than 30 routes out of Liverpool John Lennon Airport, posted a profit after tax of just over €1bn for the 12 months to March 3, down from €1.45bn the previous years.
Michael O'Leary, chief executive of Ryanair, said: "As previously guided, Ryanair (excluding Austrian low-priced airline Lauda) reports a full year after tax profit of €1.02bn (£890m)".
"Assuming revenue per passenger (RPP) growth of three per cent, we are guiding broadly flat group profits", said a Ryanair statement.
Aretha Franklin’s Will Was Found In A Notebook Underneath A Couch Cushion
Some of the four-page document is almost illegible, and it is full of cross outs and notes added to the margins. But son Kecalf Franklin noted that the 2014 will called for him to serve as representative of the estate.
Blame US Politicians, Not Companies, Huawei Founder Says, Dismissing Blind Nationalism
Google's move blocked any future software updates to Huawei's Android devices. Google search results on a Huawei smartphone .
We expect to play the best cricket we can, says Kohli
If you look at an Afghanistan from 2015 to now, they are a completely different side. You saw all the guys bowling, no one looked exhausted after bowling four overs.
Excluding fuel, unit costs were likely to rise by 2%, mainly as a result of the appreciation in Sterling and delays in taking deliveries of the Boeing 737 MAX, with the first deliveries of the latter now seen in Winter 2019.
The airline estimates that profits could range between €750-€950 million for financial 2019.
While bookings in its first half were slightly ahead of past year, the group said fares were lower with the trend expected to continue through 2019 with "zero" visibility for the second half.
"This guidance is heavily dependent on close-in peak summer fares, H2 prices, the absence of security events, and no negative Brexit developments", management said.
Budget carrier Ryanair booked a 29% fall in annual profit after rising sales were more than offset by higher fuel and staff costs.
China was the first country to ground the 737 MAX globally after a crash in Ethiopia killed 157 people in March, in the second such incident for Boeing's newest aircraft.
In what O'Leary described as a vote of confidence from the board, Ryanair will begin a 700 million euro share buyback in the coming days.