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Cheap Flights Provider Ryanair has Improved Profits Forecast

Thanks to heavy demand during the Christmas travel season, which offset the rising cost of fuel, Ryanair now has improved profits forecasts for the coming year-end.  There has been a 19% increase in the cost of oil, but the airline is still expecting a 7%, or €540million (£460million), profit by March.  Ryanair said they experienced a 15% increase in revenues over the three months ending in December, due to a strong demand from Germany, the UK, and Scandinavia.  This demand pushed ticket prices up.

 

During the period ending in December, profits were also up by 21% because their average fare increased by 8%.  They also saw their passenger count increase by 3% to 17.3 million, although they expect this number to fall by 3%, or 400,000 passengers, in this quarter.  The expected decrease in the number of passengers this quarter is a result of the grounding of 80 aircraft by the airline, due to the high oil prices.

 

The above article is a summary.  Please see the source article at Google News.

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