Ryanair today raised its annual profit forecast after a major fall in fuel costs helped the budget airline reduce its losses in the last three months of 2009.
The airline reported a loss of 11 million euros (£9.6 million) for the October to December quarter - significantly down on the 102 million euros (£88.8 million) loss it posted in the same period during 2008.
Ryanair said the result was brought about by a 37 per cent reduction in fuel costs for the quarter, which helped offset a 12 per cent drop in fare revenues
Read more: http://www.dailymail.co.uk/money/article-1247639/Ryanair-raises-profit-forecast-losses-ease.html#ixzz0eYbtiaFM
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