Thumbs up for Ryanair

Budget carrier Ryanair will this week buck the trend in the airline industry with better-than-expected annual profits. Oil prices, recession pressures and the recent volcanic ash clouds have been key issues for the industry.

Ryanair - led by Michael O'Leary, said last month a late flurry of bookings in its final quarter would boost annual profits by at least £21.3m. It upped profits guidance for the year to March 31 to at least £263.8m compared with previous guidance of £234m. 

This would be a turnaround for Ryanair after it suffered losses of  £144m a year ago.

IN PHOTO: Something to smile about, Ryanair boss Michael O'Leary