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* Ryanair sees FY profit of 950 mln to 1.05 bln euros
* Christmas trading better, forward bookings healthier
* Ryanair shares rise 9%, rival Easyjet also up
(Adds detail, share price, analyst quote)
By Padraic Halpin
DUBLIN, Jan 10 (Reuters) - Ryanair raised its
full-year profit forecast on Friday after a better-than-expected
performance over Christmas and New Year, lifting shares in other
airlines as analysts said the outlook boded well for the sector.
Europe's largest low-cost operator expects a profit of
between 950 million and 1.05 billion euros ($1.17 billion) for
its financial year to the end of March, versus the 800 to 900
million euro range it forecast in November.
Ryanair's shares were 6.7% higher at 0845 GMT, with fellow
budget carriers Easyjet and Wizz Air rising
3.4% and 4.4% in its slipstream. Shares in British Airways-owner
IAG were also up 4.5%.
Better-than-expected forward bookings for January to April
come just a month after Ryanair had to cut its summer capacity
as a result of further delays in returning Boeing's
grounded 737 Max aircraft to service.
The Irish carrier said on Friday that on current trading, it
expected to finish close to the mid-point of its new profit
range and the 1.02 billion euros posted in its last financial
year, the airline's weakest annual profit in four years.
Ryanair said forward bookings for January to April were
running 1% ahead of this time last year, which would mean
slightly better-than-expected average fourth quarter fares.
Full-year passenger numbers would rise to 154 million from
the previously estimated 153 million as a result, it added.
MAX FACTOR
Ryanair last month cut its traffic forecast for the year to
March 31, 2021 to 156 million from 157 million after scrapping
some planned summer operations due to delivery delays to the MAX
jets on order from Boeing.
That forecast was based on Ryanair receiving 10 MAX aircraft
in time for the summer season. It previously cut expectations to
20 from the 60 originally scheduled and chief executive Michael
O'Leary has since said it may need to wait until October for the
first MAX plane.
Friday's trading update did not mention the 2021 passenger
forecast.
Analysts at Bernstein said Ryanair could be the first signal
of a recovery in airline sector profits.
"EU airlines, and especially short haul carriers, should
make hay while the sun shines. With the Max still grounded and
capacity growth at lower levels, this may indicate a better
yield environment through winter," Bernstein said in a note.
Ryanair also said that Austrian subsidiary Laudamotion
continued to underperform, with average fares over Christmas
lower than expected, despite strong traffic growth and high load
factors.
Laudamotion's net loss for the full year would therefore
widen from under 80 million euros to around 90 million euros.
($1 = 0.9012 euros)
(Additional reporting Muvija M in Bengaluru; Editing by Arun
Koyyur, Alex Richardson and Alexander Smith)
