Ryanair raised annual forecast

The company Ryanair raised annual forecast for the profit after reporting a net profit growth of 32% to 795 million EUR in the first half. The budget airline now expects earnings of between 750 and 770 million EUR in 2014 compared to its previous forecast of 650 million EUR. The number of customers of the airline grew by 4% in the first half, as expected in the second half of the year growth to increase to 16%. However, the company warned that it largely depends on the number of bookings in the second half. The company announced that its average fare rise by 5% in the first six months of 2014 to 54 EUR. The CEO of Ryanair Michael O’Leary, however, told that because of the slightly higher prices in summer, winter rates will be reduced by between 6% and 8%, it will leave rates unchanged or increased slightly throughout the year.

Earlier this year, Ryanair made ​​a deal with Boeing for the supply of up to 200 new aircraft, which will have additional seats and more legroom. The aircraft to be delivered between 2019 and 2024, will significantly reduce the cost per unit of Ryanair, allowing it to further reduce tariffs.

“As the data show strong first half and increased forecast our business model is performing well, but there is still much work to do”, said from the airline.