Ryanair says profits soared 10% in first half

Dublin-based airline Ryanair has said that its profit in the first half jumped 10% beating expectations thanks to higher fares and a lower fuel bill, prompting Europe's biggest budget airline to raise its guidance for full-year profit.

The airline, which is waiting to hear whether EU regulators will approve its takeover of Aer Lingus, said fares rose 6 percent in the second half, coupled with a surge in passenger numbers during the summer months.

Ryanair has said that its profits have jumped Credit: Rui Vieira/PA Wire

Net profit for the six months to end-September was 596 million euros ($765.6 million), up from 544 million a year ago, ahead of analyst expectations at 564 million.

Revenue is said to have surged 15 percent to 3.1 billion euros.

The airline lifted its forecast for the year to March to a profit of between 490 million euros and 520 million euros from its previous guidance of 400 million to 440 million euros.