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Ryanair raises full year profit guidance

6-Apr-2010 2:51 PM

Ryanair raised (01-Apr-2010) its profit after tax guidance for the year ended 31-Mar-2010 from a previously guided EUR275 million, to not less than EUR310 million. The increase is the result of "somewhat stronger than expected passenger bookings, at better than expected yields", during late Feb-2010 and Mar-2010 in the run up to the Easter holiday weekend. Ryanair expects to announce its full year results on 01-Jun-2010. The move is the second time in two months the carrier has raised profit guidance for the year, with CEO, Michael O’Leary, raising after-tax profit estimates from the lower end of a range of EUR200-300 million at the LCC’s 3Q2009 results announcement in Feb-2010 (telegraph.co.uk, 01-Apr-2010). Mr O’Leary also stated in Feb-2010 he expects average fares for the full year to decline “closer to 15% than the 20% previously guided”. [more]