That compares to its previous guidance at the lower end of the €200-300m range.
The airline reported a better than expected loss of €10.9m for the three months to the end of December, compared to a loss of €101.5m the same time the previous year.
Revenues over the three months rose by 1% to €612m, as 14% growth in its traffic numbers was offset by a 12% fall in average fares.
Ryanair's ancillary revenues grew by 6%, which the airline noted was slower than the growth of passenger volumes due to changes in consumer behaviour and euro/sterling exchange rate.
The airline's fuel costs fell by 37% to €207m, reflecting the benefit of lower oil prices.
Ryanair said market conditions remained difficult, but it was still gaining market share from the three leading flag carrier groups Deutsche Lufthansa, Air France-KLM and British Airways.
