Ryanair flies high on profits surge as European market lead confirmed

Low-cost carrier Ryanair says a surge in winter bookings means it is raising its annual profits forecast by 20%. It added it will go on the attack in the new year by slashing prices by 10% to take market share from its rivals.

The new forecast is 100 million euros north of the last estimate and, at between 750 and 770 million, beats the average analysts’ forecast. Operating margins were raised by 4% in the same period, to 26%.