Ryanair on course to make €295m profit

RYANAIR remains on course to make profits of €295 million this year, chief executive Michael O’Leary said yesterday.

With Aer Lingus forecasting its profits will fall by up to 50% in 2005 and several more carriers plunging into bankruptcy, the budget carrier maintained its profits will rise in 2005 and 2006.

“We see no reason to change our guidance, nor would we raise our guidance,” Mr O’Leary said at the World Low-Cost Airlines summit in Amsterdam.