Low budget airline Ryanair has announced that it has increased its long-term traffic forecast by 10% as the company believes it can deliver profitable growth across Europe “despite Brexit”, as it envisages carrying over 200 million people a year by March 2024.

This report comes as the airline revealed a 7% rise in first-half profits, however due to the UK’s vote to leave the EU, the company has lowered its planned UK growth next year from 12% to around 5%.

Describing its figures as “a strong first half”, the company made €1.168 billion (£1.04 billion; $1.29 billion) in the April – September period, however the company warned "weaker air fares and Brexit uncertainty will be the dominant features of the second half of the year."

In October, the airline dropped its forecast for full-year profits, holding the drop in the pound responsible after the Brexit vote.

It said at the time that net profit would be €1.3bn to €1.35bn (£1.17bn-£1.2bn), 5% below its earlier guidance.
In a recent statement, the airline said it remained "comfortable" with that figure, but said that was heavily dependent on avoiding adverse declines in airfares during the fourth quarter. It already expects revenues from fares to fall in the second half of the financial year by 13% to 15%.

Michael O’Leary, Ryanair chief executive, said that business was "booming", but that the environment was "bearish" after the Brexit vote. As a result, the airline was cutting its fares to encourage more people to travel.
"It's bad news for my shareholders, but great news for my customers."

Mr O'Leary also commented on how the British government had “no idea” about how to handle Brexit accusing Theresa May of "faffing around in India."