Ryanair beats profit targets, hikes outlook again; shares jump 10 percent to record high

DUBLIN – Ryanair has raised its profit outlook again, sending shares in Europe's biggest budget airline to a record high.

The airline said Monday that its net profit for the half year between April and September rose 32 percent to 795 million euros ($994 million). Chief Executive Michael O'Leary said he would boost services during the traditionally weak, loss-making winter season.

Ryanair said it expects to carry 89 million passengers in this fiscal year — 2 million more than previously forecast — and report full-year net profit of at least 750 million euros. That's 15 percent better than previously guided and represents the airline's second upgrade this year.

Ryanair shares rose 10 percent to a record 8.36 euros.

O'Leary said Ryanair aimed to carry 150 million passengers by 2024.