Ryanair raises full-year profit forecast

<p>Ryanair has raised its profit forecast for the full year, while continuing its efforts to acquire Aer Lingus.</p>

Budget airline Ryanair has increased its profit forecast for the full year after a better-than-anticipated performance over the final quarter of 2012.

The carrier reported an €18.1 million (£15.4 million) profit after tax in the three months to December, which is a 21 per cent climb year on year thanks to a rise in pre-Christmas bookings and lower operating costs.

Ryanair has also given an update on its bid for rival airline Aer Lingus. The carrier is making its third attempt to buy the Irish company after being given a list of objections by the European Commission in October.

"We look forward to completing our offer for Aer Lingus subject to receiving approval from the EU competition authorities in early March," the no-frills airline stated.

At 10:50 GMT on the London Stock Exchange today (January 28th), Ryanair's share price dropped by more than two per cent to €5.39 per unit.

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