Ryanair raises full year profit guidance by 25%

Ryanair issued a trading statement on September 9th, raising its full year net profit guidance by 25% from a current range of €940m to €970m to a new range of €1.175bn to €1.225bn due to stronger than expected peak summer traffic and prices as its “Always Getting Better” (AGB) customer experience programme continues to win millions of new customers at slightly higher than expected air fares. Ryanair had originally planned to update shareholders on current trading at its Sept 24th AGM, however the strength of its July and August numbers is continuing into September and the scale of the upgrade (40% up on prior year) requires this update to be brought forward.