Ryanair raises full-year profit guidance to at least €310m
Friday 02 April 2010
Ryanair boosted its annual profit forecast yesterday thanks to a spate of bookings at higher-than-expected prices in late February and March.
The budget carrier is now predicting that profits will come in at not less than €310m (£275m) when it reports its results in early June. Before yesterday's announcement, the group was predicting profits of €275m, while the earliest forecasts for financial 2009 were at the lower end of the €200m to €300m range.
To some extent, the change is a reflection of Ryanair's usual bearish forecasting – early predictions that prices could fall as much as 20 per cent last year were revised to 15 per cent and may come in nearer 10 per cent.
The revised guidance also reflects underlying improvements in the recession-hit aviation industry. "Much of the improvement is still anecdotal," Gert Zonneveld, a transport expert at Panmure Gordon, said. "But economic growth is picking up and general sentiment is far better than at this time last year, and that is translating into better-than-expected demand."
Ryanair may also have picked up some passengers put off by the strikes at British Airways. But although the Irish company was selling itself hard as an alternative in the run-up to the strike, the chief executive Michael O'Leary subsequently expressed his full support for BA's Willie Walsh, and leased him some Ryanair planes to help the company keep some routes open.
- 1 Finland schools: Subjects scrapped and replaced with 'topics' as country reforms its education system
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 Watch: Man takes selfie every mile of 2,600 mile hike, creates amazing timelapse video
- 4 The day I starred in Only Fools and Horses
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
Germanwings plane crash: Co-pilot Andreas Lubitz 'sought treatment for eyesight problems'
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Yemen crisis: Saudi Arabia ready for long campaign against Houthi rebels across the border
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Revealed: Putin's army of pro-Kremlin bloggers
Germanwings plane crash: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
The West has it totally wrong on Lee Kuan Yew
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...