Ryanair Ups Forecast as Profit Jumps 32%
DUBLIN (
) --
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
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