Ryanair just revised up its 2015 profit forecast by €60m

 
Lynsey Barber
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Ryanair has revised profit forecasts up (Source: Getty)

Ryanair’s share price soared more than eight per cent this morning as it revised its full-year profit forecast upwards by €60m (£47m).

The budget airline said customer numbers increased in November, which it credited to its "Always Getting Better" campaign and it now expects more than 1m additional passenger numbers over the year.

The firm raised its full-year profit guidance to between €810m (£635m) and €830m (£651m), up from between €750m (£588m) and €770m (£604m) as seat capacity increased 13 per cent last month and load factor increased to 88 per cent from 81 per cent in 2013.

The airline said it had “materially exceeded its first month load factor targets across a significant number of city pair markets where it is offering business type frequencies in direct competition to longer established, higher fare airlines”.

Despite the upgrade, it warned that final full-year profit will “still be heavily reliant on close-in bookings and yields in quarter four (January to March 2015) over which it presently has very little visibility".

Outspoken boss Michael O'Leary has sought to woo customers with allocated seating, business class and better customer service in a turnaround from its previous no-frills image.

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