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Ryanair remains profitable and maintains full year profit target; profits hit by ash cloud in 1Q2011

Ryanair remained profitable in the three months ended Jun-2010 (1QFY2011) reporting a quarterly profit that exceeded analysts’ estimates, with the carrier also forecasting that fares may rise by as much as 15% in the current period (after increasing 5% in the Jun-2010 quarter).

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