Ryanair held its 2014 AGM at its new Dublin offices in Swords today, during which the airline briefed shareholders on the continuing success of its improving customer experience, and the strong early uptake of its new Business Plus service. The continuing success of these ‘Always Getting Better’ initiatives has enabled Ryanair to raise its full year traffic forecast from 86m to 87m customers, and move its full year net profit towards the upper end of its (previously guided) €620m to €650m range.
Ryanair’s Michael O’Leary said: “Our customers and our shareholders have responded favourably to our improving customer experience, our better digital platform and the positive initial uptake of our Business Plus service. We now expect slightly stronger traffic growth in the winter schedule, as we open new bases in primary airports at Cologne, Gdansk, Glasgow and Warsaw Modlin, as well as significantly increasing flight frequencies and schedules from Dublin to UK cities, and from Dublin to European capitals.
While still too early to be confident about H2 fares and yields, the continuing strength of our forward bookings and the improving customer experience leads us to cautiously raise our full year traffic forecast to 87m customers, and our full year profit guidance towards the upper end of our current €620m-€650m range.
However, the full year profit outturn continues to be heavily dependent on H2 yields over which we have very little visibility at present. We will give an update on Q3 yield performance at our half year results announcement in early November.”
The airline's share price has risen over 2% in Dublin.
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