Future Of British Business
Ryanair Boosts Profit Forecast After Strong Christmas Demand
- Irish discounter lifts guidance after bumper festive season
- Stock jumps most since April; discount, network rivals also up
Ryanair said that holiday season bookings and fares benefited from pent up demand.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Ryanair Holdings Plc, Europe’s biggest discount airline, raised its full-year profit target following a stronger-than-expected Christmas travel period, spurring gains across European airline stocks.
Earnings for the 12 months through March this year could reach €1.425 billion, versus a previous target of as much as €1.2 billion, Ryanair said after markets closed Wednesday. Profit in the December quarter was close to €200 million, it said.