Ryanair has announced an increase in its annual profit guidance on after recording results during Q2 2014 in which net income rose 152% over the same period the previous year.
The airline recorded profits during Q2 of €197 million, compared to €78 million during Q2 2013.
On the basis of these results, Ryanair has revised its forecast for full year profit to between €620 million and €650 million for the year up to March 2015, up from a range of €580 million to €620 million issued previously.
Ryanair CFO Howard Millar said: "We've made a lot of service improvements over the last six or seven months and we're seeing the benefits. The boost in profit guidance is due to a larger number of passengers, which reduces unit costs, so it’s a cost-driven increase. We are going to invest in our route network this winter.”