Ryanair optimistic about profit

Irish airline Ryanair has raised its profit forecast for this year and said it has been able to exploit the slump in the airline industry.

Europe’s biggest low-cost carrier saw its shares rise sharply after saying it continues to gain market share from the region’s leading flag carriers Air France-KLM, British Airways and Lufthansa.

Ryanair’s net loss in the three months to the end of the year was just under 11 million euros, much better than analysts had forecast, and a huge improvement on the over 118 million euro net loss during the same period a year earlier.

It said fares are declining less than anticipated after it introduced routes with better growth potential.

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