(MENAFN- AFP) Irish low-fare airline Ryanair said Thursday that annual net profits will be at the top end of expectations, citing improved customer services and a new offering for business travellers.
Profits after taxation for the current financial year to March 2015 are expected to be "towards the upper end" of its previously-announced forecast range of between 620 million euros and 650 million euros ($790 million and $827 million), Ryanair said in a statement.
The group also raised its prediction for annual passenger traffic to 87 million customers from 86 million.
Ryanair had last month launched a new 'Business Plus' service targeting companies wanting to cut costs, with benefits including ticket change flexibility, greater baggage allowance, priority boarding and premium seats.
The airline is also pushing ahead with its 'Always Getting Better' customer service overhaul, which has already seen a new website and app, a free second carry-on bag, and a new service for families.
"Our customers and our shareholders have responded favourably to our improving customer experience, our better digital platform and the positive initial uptake of our Business Plus service," said Ryanair chief executive Michael O'Leary in Thursday's statement.
He cautioned however that full-year profits would depend on Ryanair's performance in the second half of the current financial year.
"The full-year profit outturn continues to be heavily dependent on second-half yields over which we have very little visibility at present," O'Leary added.
Ryanair expects slightly stronger traffic growth in its European winter schedule, as it opens new bases in airports in Cologne, Gdansk and Glasgow, and introduces more frequent flights between Dublin and cities in Britain and elsewhere in Europe.
Earlier this month, Ryanair agreed to buy 100 aircraft from Boeing for $11 billion, with an option to purchase another 100 planes from the US aerospace giant.
The huge order was aimed at meeting the Irish airline's long-term growth target of 150 million customers by 2024. The first planes will be delivered in 2019.
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