Ryanair set to post better profits but ash cloud drags

BUDGET airline Ryanair is expected to report net profits of up to €315m (£266.2m) today when it delivers its full year results.

Analysts are forecasting that the Irish-based carrier will deliver profits of more than €310m for the year ending 31 March, which will be roughly in line with the company’s expectations.

Ryanair upped its profit guidance last month to roughly €310m compared with earlier forecasts of around €275m.

The airline is also expected to report a substantial €60m hit from the disruptions caused by the Icelandic volcano chaos.

News comes as the airline added two new directors to its board last week, including former EU commissioner and Irish finance minister Charlie McCreevy and Declan McKeon, former audit partner of PricewaterhouseCoopers in Dublin.

McCreevy and McKeon will become non-executive directors of Ryanair Holdings immediately, with the number of board members climbing from eight to 10.