Ryanair profits jump on hot spots
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Budget airline Ryanair reports an 80% surge in profits after it carried more passengers to sunnier climes.
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World Airways Inc. raised its third-quarter revenue and operating income forecasts on Wednesday, citing benefits from military and commercial contracts; shares of the cargo carrier jumped more than 35 percent.
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The airline posts its first profit in three years.
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Southwest Airlines and Continental Airlines posted higher quarterly earnings yesterday as fuller planes and fare increases helped offset soaring fuel costs.
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Ryanair Holdings PLC posted a record full-year 2006 profit Tuesday amid higher fuel prices and strong competition, but offered a cautious forecast for 2007.
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European equity markets ended higher on Tuesday, shrugging off early losses, as airline stocks were lifted by merger speculation, while industrial groups gained on earnings expectations.
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Profits got a boost despite sluggish sales from the challenging environment.
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LONDON, November 8  - British Airways&#39; (BAI1.FSE) second-quarter pretax profits more than doubled this fiscal year, boosted by the company&#39;s effective cost reduction measures and a robust upturn in the long-haul passenger traffic trends.
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The airline said fourth-quarter net income rose to $111 million compared to a year-earlier profit of $57 million, But it warned that fuel costs in the current quarter will rise substantially.
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Europe&#39;s biggest no-frills airline, Ireland&#39;s Ryanair Holdings Plc (RYA.I: Quote, Profile, Research) , will turn a profit even if oil prices hit $75 a barrel, Chief Executive Michael O&#39;Leary was quoted saying on Sunday.
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Australian buyout target Qantas Airways  Ltd.  raised its annual profit forecast for the third  time in six months as fuel prices ease and demand for travel  increases.
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Europe's biggest no-frills airline, Ireland's Ryanair Holdings Plc , will turn a profit even if oil prices hit &#36;75 a barrel, Chief Executive Michael O'Leary was quoted saying on Sunday.
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British Airways Plc, Europe&#39;s second- largest airline, said second-quarter profit gained 26 percent after the carrier cut jobs and travel demand rose.
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Major airlines turn in a surprising industry performance.
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US aerospace giant Boeing Co. reported a 78 per cent jump in third-quarter profits, buoyed by a strong defence business, as the company raised its estimate for full-year profits because of a favourable tax outlook.
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Low cost airline Easyjet says its full year profits will be higher than forecast after a strong summer's trading.
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European stock markets were rebounding, with big gains for French electricity group EDF, German airline Lufthansa and British caterer Compass.