LONDON: Irish budget airline Ryanair said Monday that it returned to profit in the first quarter as demand jumped on the travel sector’s nascent recovery from the Covid pandemic.Net profit hit 170 million euros ($174 million) in its first quarter or three months to June, the Dublin-based carrier said in a statement.That contrasted sharply with a net loss of 273 million euros a year earlier, when it continued to be hit by Covid travel restrictions.Traffic increased more than five-fold to 45.5 million passengers.However, Ryanair’s performance still fell short of its pre-pandemic net profit of 243 million euros in the first quarter of its 2019/2020 financial year.“While traffic recovered strong
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