Dublin (Reuters) -Ryanair’s net profit has more than doubled during the quarter from April to June, thanks to the Easter holidays and last minute than expected prices, the largest airline at a low -cost airline said on Monday.

The Irish airline, the largest in Europe in number of passengers, reported a net profit of 820 million euros for the first quarter, against 360 million euros for the same period last year.

Analysts were tabling on 716 million euros, according to a consensus compiled by the group.

The Ryanair action took 6.27% at 24.57 euros at 07:44 GMT, close to its historic record of 24.98 euros reached on July 8.

“The prices of the first quarter greatly benefited from Easter holidays in April, the weakness of the data of the previous year in comparable and last minute pricing slightly higher than expected,” said Michael O’Leary, Managing Director of Ryanair, in a statement.

The average rates increased by 21% compared to the same quarter the previous year.

“We (…) carefully plan to recover almost all of the drop in prices of 7% throughout last year, which should lead to reasonable growth in net profit for financial year 2026, which ends on March 31,” said Michael O’Leary.

Ryanair says she is optimistic and also “perhaps a little confident” in the fact that American and European negotiators will agree to exempt commercial aircraft from all new customs duties, said financial director Neil Sorahan on Monday.

According to Neil Sorahan, the comments made in June by the American Secretary for Transport, Sean Duffy, on the absence of customs duties for commercial aircraft were positive. However, this confidence is undermined by the recent American threat of customs duties of 30% against the European Union.

Reservations for the rest of summer are “good on the whole line,” said the group, which does not see a tendency to later reservations than normal, as some of its rivals have pointed out.

(Written by Conor Humphries; by Coralie Lamarque, edited by Kate Entringer)

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