Ryanair raises profit forecast after putting up fares

http://www.guardian.co.uk

Ryanair raises profit forecast after putting up fares

• Full-year profit forecast now €480m• Quarterly profit of €15m• Fares up by an average of 17%• Fuel prices pose ‘significant challenge’ – O’LearyRyanair has raised its profit forecast, saying higher ticket prices were more than making up for expensive fuel and reduced capacity, underlining the resilience of the low-cost sector as long-established airlines struggle. The Irish low-cost carrier, Europe’s largest, increased its full-year profit forecast by 9% to €480m (£400m) after posting revenue growth of 13% in the three months to 31 December.