Ryanair raise profit forecast after better than expected winter
02.04.10
Ryanair announced yesterday that the worst recession to hit the worldwide aviation industry may be easing as it increased its profit forecast for a third time. The low-cost airline stated that profits for the year to the end of March would be a minimum of €310 million (£275 million). This new forecast compares with a loss of €169.2 million last year and is an increase on the ‘low €200 million’ forecast six months ago and the €275 million revised estimate given in November.
Ryanair had expected to lose money in the winter quarter, traditionally the weakest for carriers, however stronger than anticipated passenger numbers have enabled it to lift the forecast. It also stated that its yields, the amount it makes from each seat, had been higher than anticipated - a important indication of a stronger aviation market.
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