Ryanair Holdings Plc. is expecting more passengers and a business overhaul that will make their client attracted to the business. The airline is predicting that they will be reaching the top range of its projected earnings for this fiscal year.
The estimated profit which was disclosed at Ryanair's general annual meeting, will be around the level of 620 million euros (or $788 million) to 650 million euros. The projected amount depends on the second half results.
Per Ryanair's prediction, the carrier's traffic will increase to 87 million clients this year as compared to the previous number of 86 million.
Ryanair already signed an order for around 200 additional aircrafts (Boeing Co.'s 737 single-aisle aircrafts) this month as they want to focus on their expansion in Europe. Their continued strength was also pushed by the troubles of Lufthansa AG and Air France KLM on their short route flights.
Chief Executive Officer Michael O'Leary of Ryanair Holdings Plc. said that the airline's distribution pact with flight reservation specialist Amadeus will see boost in business flyers. This will also give visibility on corporate clients.
Ryanair is a low cost airline which is based on Ireland and operates two primary bases ate Dublin Airport and London Stansted Airports. Just last year, Ryanair was declared the largest Eurpoean airline by scheduled passengers carried. The air carrier has around 300 Boeing 737-800 aircraft. Direct competitors of Ryanair includes Easyjet amd Wizz Air.
The discount carrier operates over 65 bases accross Europe and North Africa. The carrier traditionally prefers flying to smaller or secondary airports (sometime outside major cities) to help the company incur lower landing fees and quick turnover times, reducing the company's cost.
Ryanair's stock went up as much as 30 cents, or around 4.2 percent to 7.6 euros in Dublin. The carrier's stock has already gained 19 percent this year and outperformed their competitor Easyjet Plc which lost 13 percent this year.
