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RyanAir boosts profit forecast by 25 percent

Shares in Ryanair soared to an all-time high on Wednesday after the airline raised its annual profit forecast by 25 percent. The Irish carrier says

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RyanAir boosts profit forecast by 25 percent

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Shares in Ryanair soared to an all-time high on Wednesday after the airline raised its annual profit forecast by 25 percent.

The Irish carrier says it now expects net profits to be between 1.18 billion and 1.23 billion euros in the 12 months through till next March.

Its previous forecast was between 940 million and 970 million euros.

The reasons: Ryanair believes poor weather in northern Europe this summer boosted demand, with other factors being lower oil prices, a strong pound, a lack of new capacity on European short-haul services – and the company’s two-year drive to improve customer service.