Tourism Industry News

Ryanair Raises Forecast as Q3 Loss Narrows

12/02/2010 10:48

Irish airline Ryanair on Monday increased its profit forecast for the year after posting a narrower-than-expected third-quarter loss as fares fell less than earlier projected.


Europe’s biggest low-cost airline said market conditions remained difficult and it was still gaining market share from the three leading flag carrier groups Lufthansa, Air France-KLM and British Airways.


Ryanair, which in December broke off talks with Boeing on a potential order of up to 200 aircraft, reiterated that it was planning to scale back investments from 2013 and it could start returning cash to shareholders instead. Ryanair’s net loss of 10.9 million euros ($15.3 million) in the three months to the end of December compared with a 118.8 million euros net loss a year earlier.


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