Ryanair Earnings Rise on Higher Fares
The Dublin-based carrier had profit of 330.3 million euros ($461 million) in the quarter ended Sept. 30, up from 250.5 million euros a year earlier, Bloomberg News reported.
The company raised its forecast for full-year earnings to 380 million euros to 400 million euros. Ryanair previously forecast earnings of 350 million euros to 375 million euros.
"This strengthens a trend that's really been gathering pace over the past couple of weeks," said Joe Gill, an analyst at Bloxham Securities told Bloomberg News. "Pretty much every major airline in the world has now come in with strong numbers and raised their guidance on the back of solid summer and autumn trading."
Ryanair fares rose 12% in the quarter and should increase by about 10% in the current quarter.