A Ryanair Boeing 737-800 airplane takes off from the airport in Palma de Mallorca July 29, 2018. — Reuters pic
LONDON, Jan 10 — Irish no-frills airline Ryanair today lifted its annual profit forecast, citing a solid holiday performance and “strong” fourth-quarter bookings.
Net profit is now expected to stand at between €950 million and €1.05 billion (RM4.33 billion and RM6.8 billion) for its current financial year that ends in March, the airline said in a brief statement.
That compared with prior guidance of between €800 million and €900 million.
“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, which 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. — AFP