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Sep 9 2015
Based on better-than-expected summer trading and a more favourable outlook on winter booking trends, Ryanair has upgraded its FY 2016 net profit guidance by c.25% to a new range of €1,175-1,225m (previously upper end of €940-970m). While the company’s ‘Always Getting Better’ programme has driven the materially improved outlook for both yields and volumes, it has been aided by favourable industry conditions and a better spot fuel price. While management cautions that the full-year result will depend on close-in bookings, we will be revising our forecasts upwards to reflect the new guided range.