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Ryanair flies high on profits surge as European market lead confirmed

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Ryanair flies high on profits surge as European market lead confirmed

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Low-cost carrier Ryanair says a surge in winter bookings means it is raising its annual profits forecast by 20 percent.

It added it will go on the attack in the new year by slashing prices by 10 percent to try to take market share from its rivals.

The new forecast is 100 million euros above its last estimate and, at between 750 and 770 million, beats the average analysts’ forecast.

Operating margins were raised by four percent in the same period, to 26 percent.