Ryanair revises its forecast after profits increase by 10%
Ryanair has seen profits increase by 10% and traffic growth up 7% due to higher fares and reduced fuel costs.
The low cost airline reports that profits exceeded their expectations and has revised its forecast for the year to March to a profit of between of 490 million to 520 million euros.
Its previous guidance was between 400 million to 440 million for the year to March.
Net profit for the six months to end of October was 596 million euros, up from euros 544 million euros a year ago.
In a separate update on its offer for Aer Lingus, Ryanair said it was determined to explore all commercial options to address any competition concerns the EU may have to order to get approval for the merger.
CEO Michael O’Leary said: "The recent BA/BMI (Phase 1) merger approval and the subsequent Aegean/Olympic merger proposal vindicate Ryanair’s view that its offer for Aer Lingus along with the radical remedies package will – if fairly assessed – secure EU competition approval."
The deadline for its decision on the 700 million euro ($912 million) deal is February 6.
Diane
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