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O’Leary denies increasing profit guidance

12.05.09

Ryanair's Chief Executive Michael O'Leary said he had not raised the airline's profit guidance for 2008-09, denying an earlier news agency report. He said at a press conference in Munich: ‘I said that analysts estimate €60 - €80 million, and that we feel comfortable with those estimates. I did not give a new guidance.'

Following a press briefing in Milan earlier yesterday, Italian news agency ANSA reported that O'Leary had said he now expected net profit of €60 - €80 million for 2008-09. In April, he said there was no reason to change guidance of €50 - €80 million for the year ending March 31, 2009. Ryanair is due to report results for the year to March 31, 2009 at the beginning of June.

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