Ryanair said it will raise fares after reporting a sharp fall in quarterly profits, following a fine imposed by Italy’s competition authority for abusing its market position.

Ryanair (RYAAY) reported a more than doubling of its net profit for the April-June quarter, driven by higher-than-expected last-minute fares and the timing of the Easter holidays.

Irish no-frills carrier Ryanair on Monday said net profit fell 16 percent in its financial year as it cut ticket prices to boost passenger numbers.

Irish budget airline Ryanair announced a decrease in net profit for the second quarter on Monday, revising its passenger growth target due to delays in Boeing aircraft deliveries.