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Michael O'Leary

Ryanair Forecasts 2014 Growth

Ryanair Holdings PLC posted a rise in both profit and revenue for the year and forecast further growth in 2014 as it continued to open new bases and routes and take market share from struggling rival European carriers."Ryanair believes that its unique low cost advantage will enable the airline to achieve a 20% share of the European short-haul market over the next five years, particularly given that many of Europe's high fare incumbents are restructuring and cutting capacity," Chief Executive Michael O'Leary said Monday.The airline, Europe's leading budget carrier by passenger numbers, said net profit for the year ended March 31 rose to EUR569.3 million ($730.8 million) from EUR560.4 million from a year earlier. Operating profit before exceptional items, the measure looked at most closely by analysts, rose 16% to EUR718.2 million on an 11% rise in revenue to EUR4.88 billion as Ryanair flew 79.3 million passengers in the period, up 4.6%. Ancillary revenue, or income from sales other than...

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