Shares in Ryanair jumped in Dublin today after the airline again raised its profit target for the financial year which ended on March 31.
Ryanair said it expected after-tax profits for the year of 'not less than' €310m, compared with its previous outlook for €275m. The shares closed up 8% at €3.97 in Dublin.
The airline said this was as a result of somewhat stronger than expected passenger bookings - at better than expected yields, or average fares - in late February and March in the run up to the Easter holiday weekend.
Ryanair expects to announce its full year results on June 1.
This latest increased guidance comes after Ryanair said in February that it was upping its profit forecast to €275m from the lower end of the €200-€300m range.
In February, the airline had reported a smaller 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.
