(Alliance News) - Ryanair Holdings PLC late on Wednesday raised its full-year profit guidance on a strong performance over the Christmas and New Year's Eve period.

The Dublin-based low-cost airline said that it expects a stronger-than-expected third-quarter performance, due to strong pent-up travel demand over the holiday season.

The company noted that no damage from Covid or the war in Ukraine lead to strong Christmas and New Year traffic and fares. Ryanair's third quarter ends on December 31.

The firm now expects full-year post-tax profit in the range of EUR1.33 billion to EUR1.43 billion, up from an initial forecast of 1 billion to 1.2 billion euros.

For the third quarter that ended on December 31, it expects to report post-tax profit of as close to EUR200 million. 

However, the budget airline noted in a statement that the reassessment was "heavily dependent" on avoiding further fallout from "adverse events" such as Covid or the ongoing war in Ukraine.

Earlier on Wednesday, Ryanair said its December traffic rose 21% to 11.5 million guests from 9.5 million in December 2021.

The load factor improved to 92% from 81% a year earlier.

On a rolling 12-month basis, passenger numbers more than doubled to 160.4 million guests from a year ago and load factor the load factor rose to 92%, from 81%.

It will publish its third-quarter results on January 30.

By Abby Amoakuh, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Limited. All Rights Reserved.