Share price soars as Ryanair raises profit target

A stronger-than-expected jump in passenger numbers for the first month of its winter schedule has prompted Ryanair to increase its full-year profit guidance for the third time this year.

The European short haul/low fares leader yesterday reported a 22% annualised jump in traffic figures for November, to 6.35m passengers. This led to the airline’s management setting a new profit target — for the 12 months to the end of next March — of between €810m and €830m.

At the beginning of last month, on the back of a strong set of first-half financial results, Ryanair increased its full-year profit guidance from a range of €620m-€650m to one of €750m-€770m. At the start of its current financial year, last April, the firm was forecasting profits of between €580m and €620m. Ryanair attributed its good early winter traffic showing to its ‘Always Getting Better’ customer programme, an expanded winter schedule and strong performances on new city pair routes.