Frankfurt — Europe's largest low-cost airline Ryanair is expecting a higher annual profit than expected after a surprisingly strong third quarter.
After taxes and adjusted for special items, the company announced on Wednesday that it expects to post a profit of €1.325 to 1.425 billion ($1.5 billion) if no negative events follow.
Previously, Ryanair had assumed a figure of €1 to 1.2 billion.
The company still expects 168 million passengers for the financial year ending on 30 March.
A profit of just under €200 million is likely to have been achieved in the third quarter, the Irish firm added. A strong pent-up demand from customers was noted in the holiday season as the majority of coronavirus restrictions in Europe were abolished.
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