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Ryanair Ups Forecast as Profit Jumps 32%

DUBLIN ( TheStreet) -- Ryanair (RYAAY - Get Report), Europe's largest discount airline, raised its full-year earnings outlook as second-quarter profit jumped 32%.

Ryanair earned €330.3 million ($461.5 million) in the second quarter vs. €250.5 million a year earlier. Revenue rose to €1.28 billion from €992.1 million.

Ryanair said full-year net profit will exceed the upper end of its previous forecast range and will finish at €380 million to €400 million. It previously expected profit of €350m to €375m.

Ryanair said its outlook for rest of the fiscal year "remains cautious as we have little visibility" on fourth-quarter yields. But it did say it anticipates its full-year yield increase to be close to 10%.

Ryanair said average fares increased by 12% for the first six months of its fiscal year. Traffic jumped 10%.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

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