Ryanair lifts profit forecast on lower loss
By Andras Gergely |
February 2, 2010, Tuesday
|
Print Edition
Print Edition
IRISH airline Ryanair yesterday increased its profit forecast for the year after posting a narrower-than-expected third-quarter loss as fares fell less than earlier projected.
Europe's biggest low-cost airline said market conditions remained difficult and it was still gaining market share from the three leading flag carrier groups - Lufthansa, Air France-KLM and British Airways.
Ryanair, which in December broke off talks with Boeing on a potential order of up to 200 aircraft, reiterated that it was planning to scale back investments from 2013 and it could start returning money to shareholders instead.
Ryanair's net loss of 10.9 million euros (US$15.30 million) in the three months to the end of December compared with a 118.8 million euro net loss a year earlier and a forecast for a net loss of 35.1 million euros by Ryanair's in-house broker Davy.
Europe's biggest low-cost airline said market conditions remained difficult and it was still gaining market share from the three leading flag carrier groups - Lufthansa, Air France-KLM and British Airways.
Ryanair, which in December broke off talks with Boeing on a potential order of up to 200 aircraft, reiterated that it was planning to scale back investments from 2013 and it could start returning money to shareholders instead.
Ryanair's net loss of 10.9 million euros (US$15.30 million) in the three months to the end of December compared with a 118.8 million euro net loss a year earlier and a forecast for a net loss of 35.1 million euros by Ryanair's in-house broker Davy.
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