Ryanair Reports Record Profits

High-flying budget airline Ryanair on Monday announced profits of 151 million euros ($151.3 million) during the first half of the year, a 71 percent increase over the same period the previous year. The Irish no-frills flier also reported a 30 percent increase in passenger count, with more than 7.8 million boarding Ryanair's fleet of Boeing 727s for cut-rate jaunts to secondary European hubs like Pisa, Montpellier or Dublin.

The airline, which flies from Germany's Hahn Airport, said it is forecasting profits for the year of 200 to 230 million euros. Already, Ryanair has the third-biggest market capitalization of any publicly traded airline, placing it above Lufthansa, British Airways and other global carriers.