Ryanair raises profit forecasts after second quarter profits double

Ryanair plane taking off

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Budget airline Ryanair has raised its annual profit forecast after seeing net income more than double for the three months to June.

Second quarter profit rose to 197m euros (£156m) compared to 78m euros a year earlier, the company said.

Chief financial officer Howard Millar said "We've made a lot of service improvements over the last six or seven months and we're seeing the benefits".

The rise comes after profit warnings by rivals Air France-KLM and Lufthansa.

Ryanair, which is Europe's biggest budget airline, began promoting a more customer-friendly image late last year.

The airline raised its profit forecast for the year to March 2015 to a range of between 620m euros to 650m euros, up from a previous estimated range of 580m euros to 620m euros.

Ryanair has also said that it plans to aggressively raise capacity this winter by 8% and build its business-friendly routes.

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