Ryanair soars as investors ignore short-term turbulence

Ryanair shares soared by nearly 9% yesterday despite the airline narrowing its forecast for full-year earnings and warning that it may have to wait longer for delivery of its new fleet of Boeing 737-Max jets.

Investors were buoyed, however, by strong second quarter earnings pointing to a better-than-expected full-year outcome and the suggestion that rising air fares next year will compensate for cost pressures brought by the ongoing delay in the aircraft deliveries.