Ryanair shares climb 7% as it pegs fiasco costs

Ryanair shares jumped more than 7% as the airline pegged back the costs of its pilot-rostering fiasco and said it would still reach full-year earnings targets.

The shares have still slumped by a significant amount and have underperformed rivals, including Easyjet and IAG, which owns British Airways and Aer Lingus, since the rostering fiasco started over a month ago. The airline posted an after-tax profit of €1.29bn for the six months to the end of September which was up 11% on the same period last year.

First-half revenues were ahead by 7% year-on-year, at €4.42bn.