Ryanair profit forecast sends shares soaring

RYANAIR, Europe’s biggest low-cost airline, said that its annual profit beat its forecast, sending the stock to the highest level in more than two years.

Net income in the last 12 months was “not less than” €310 million, compared with the previous projection for €275m, the airline said yesterday.

Earnings were helped by stronger-than-expected passenger bookings and higher average fares, the airline said.