Ryanair shares surge as airline avoids fares war

Ryanair shares surged as much as 10% yesterday as the airline indicated it had one of its most profitable summers in years.

A price war that could have been expected across Europe’s airline industry following the plunge in oil fuel costs did not materialise, helping to drive profits.

A wet summer and the additional capacity the airline can draw on in Northern Europe also helped, and should help to maintain the airline’s momentum through the winter, analysts said.