Ryanair lifts annual profit forecast
Irish no-frills airline Ryanair has now lifted its annual profit forecast, citing a solid holiday performance and “strong” fourth-quarter bookings. The net profit will stand between 950 million euros and 1.05 billion euros for its current financial year that ends in March, the airline said.
“As a consequence of this better Christmas/New Year travel period and stronger forward bookings in the fourth quarter, Ryanair believes it is appropriate to raise its full year guidance range,” said the Dublin-based carrier. The carrier is famed for promoting knock-down ticket prices. It cautioned however that its loss-making Austrian division Laudamotion had underperformed, with average fares lower than expected due to intense competition particularly from Lufthansa.
Ryanair is scheduled to publish its third-quarter earnings on February 3.