Ryanair has increased its full year profit forecast for 2023 to a range of €1.32bn ($1.59bn) to €1.42bn ($1.71bn).
This represents a 25% increase from the airline’s initial forecast of €1bn to €1.20bn.
The revision comes after Ryanair saw better than expected results in the third quarter, carrying 11.5 million passengers in December, a 21% increase from the previous year.
November also saw an increase in the number of travelers, with a load factor of 92% compared to 2019 levels.
These improvements prompted analysts at Liberum to revise their forecast for the airline.
“We increase our target price to €16 from €13 and upgrade our recommendation to Buy from Hold,” Liberum said.
