The Avanti Group the equities research house based in Tokyo, providing professional trading and investment research solutions to institutional and private investors across the globe have recently drawn their investor’s attention to the budget European carrier profits after tax for the year through March 2015, expected to be in the range of between €620 million and €650 million, $832 million and $873 million, considerably higher than the previously forecast range of between €580 million and €620 million, according to a statement released by the airline today.

The discount carrier is aiming to return to annual profit growth following its first decline in five years during the fiscal year 2014 with the budget carrier revamping its no-frills offerings in an attempt to attract older travelers, business passengers and families. Profit for Ryanair in the first quarter of the year ended June 30 was more than doubled with the Easter holiday period adding added revenues to the company’s growing profit line, although some concerns over a surge in additional seating affecting fares in the second-half have been raised.

“There would seem to be a natural back and forth between the two giants of European discount airlines Ryanair and EasyJet Plc with both carriers advancing strongly while frequently exchanging the lead to one another on the basis of performance even over the same routes being flown,” said Senior Analyst and Researcher at The Avanti Group.

First-quarter profit at the Irish discount airline rose to €197 million up from €78 million for the same period last year, eclipsing the €145 million that had been predicted by The Avanti Group analysts. Average air fares over the Quarter also increased around 9% as sales jumped up 11% to reach nearly €1.5 billion with Easter travel boosting demand. Shares of Ryanair gained as high as 5.2%, to €7.201 Euros with the stock having gained 15% over the course of this year so far, to give the airline a valuation of €9.94 billion.

“For any company to achieve an effective doubling of earnings over the course of what appears on the surface at least to be a relatively mundane quarter is quite the achievement and therefore the spike in forecast profits for Ryanair's seems relatively modest and sound, though even they have advised against over confidence with the given results. We have seen increasing demand for share holdings in budget passenger carriers throughout Europe and Asia,” concluded the Senior Analyst and Researcher at The Avanti Group.

The Avanti Group is an equity research house providing research and analysis outsourcing solutions for institutional financial traders worldwide, founded in early 2003.