A late flurry of Christmas and New Year bookings prompted a forecast upgrade from Ryanair (RYA). Forward bookings for January to April are 1 per cent ahead of this point last year, which will drive up average fares for the airline’s fourth quarter and push full-year bookings up to 154m, above a previous forecast of 153m.
The airline has lifted its full-year guidance for post-tax profits accordingly to a range of €950m-€1.15bn (£814m-£899m) from €800m-€900m. It expects to land around the mid-point of this new range.
Ryanair’s Austrian subsidiary, Laudamotion, “continues to underperform”, owing to heavy price competition in Germany and Austria. Ryanair expects the subsidiary’s net loss for the year to grow to around €90m, above previously expected losses of less than €80m.