News Summary: Ryanair raises outlook for year

AP News
Posted: Nov 05, 2012 2:22 PM

THE NUMBERS: Irish budget airline Ryanair's April-September profit rose 10 percent, while revenue rose 15 percent. Average fares rose 6 percent, while passenger volume rose 7 percent.

RAISED OUTLOOK: Based on its strong summer, Ryanair raised its profit guidance for the year by about 20 percent. But it still expects to record losses in the second half of its fiscal year, which tends to be quieter.

CONTEXT: The airline has grown from a single British-Irish route in 1985 into the biggest short-haul carrier in Europe. It expects to keep building market share at the expense of higher-priced rivals.