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.Terrorism in the United Kingdom or Elsewhere in Europe Could Have a Material Detrimental Effecton the Company.On August 10, 2006, U.K.security authorities arrested and subsequently charged eightindividuals in connection with an alleged plot to attack aircraft operating on transatlantic routes.As a result ofthese arrests, U.K.authorities introduced increased security measures, which resulted in all passengers beingbody-searched, and a ban on the transportation in carry-on baggage of certain liquids and gels.The introductionof these measures led to passengers suffering severe delays while passing through these airport security checks.As a result, Ryanair cancelled 279 flights in the days following the incident and refunded a total of ¬ 2.7 millionin fares to approximately 40,000 passengers.In the days following the arrests, Ryanair also suffered reductionsin bookings estimated to have resulted in the loss of approximately ¬ 1.9 million of additional revenue.As in thepast, the Company reacted to these adverse events by initiating system-wide fare sales to stimulate demand forair travel.In addition, reservations on Ryanair s flights to London dropped materially for a number of days in theimmediate aftermath of the terrorist attacks in London on July 7, 2005.Although the terrorist attack in Glasgowon June 30, 2007 and the failed terrorist attacks in London on July 21, 2005 and June 29, 2007 had no materialimpact on bookings, there can be no assurance that future such attacks will not affect passenger traffic.In the2012 fiscal year, 16.0 million passengers were booked on Ryanair s flights into and out of London, representing21.0% of the total passengers booked on all of the Company s flights in the fiscal year.Future acts of terrorismor significant terrorist threats, particularly in London or other markets that are significant to Ryanair, could havea material adverse effect on the Company s profitability or financial condition should the public s willingness totravel to and from those markets decline as a result.See also The 2001 Terrorist Attacks on the United StatesHad a Severe Negative Impact on the International Airline Industry below.52 The 2001 Terrorist Attacks on the United States Had a Severe Negative Impact on the InternationalAirline Industry.The terrorist attacks on the United States on September 11, 2001, in which four commercialaircraft were hijacked, had a severe negative impact on the international airline industry, particularly on U.S.carriers and carriers operating international services to and from the United States.Although carriers such asRyanair that operate primarily or exclusively in Europe were generally spared from such material adverseimpacts on their businesses, the cost to all commercial airlines of insurance coverage for certain third-partyliabilities arising from acts of war or terrorism increased dramatically after the September 11 attacks.See Item 4.Information on the Company Insurance. In addition, Ryanair s insurers have indicated that the scopeof the Company s current act of war -related insurance may exclude certain types of catastrophic incidents,such as certain forms of biological, chemical or dirty bomb attacks.This could result in the Company sseeking alternative coverage, including government insurance or self-insurance, which could lead to furtherincreases in costs.Although Ryanair to date has passed on increased insurance costs to passengers by means of aspecial insurance levy on each ticket, there can be no assurance that it will continue to be successful in doingso.Because a substantial portion of airline travel (both business and personal) is discretionary and becauseRyanair is substantially dependent on discretionary air travel, any prolonged general reduction in airlinepassenger traffic may adversely affect the Company.Similarly, any significant increase in expenses related tosecurity, insurance or related costs could have a material adverse effect on the Company.Any further terroristattacks in the U.S
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