The carrier added that forward bookings were robust heading into the peak Christmas travel period.

However, it said higher fuel costs meant it was unlikely to repeat the strong results in the current quarter that it saw last year.

Airlines typically make the bulk of their profits during the summer months when demand for leisure flying is at its highest, and often lose money over the winter.

Ryanair said it expected profits for the full-year to be between €1.85bn and €2.05bn, which would be a record high.

However, it warned that this remains “highly dependent on the absence of any unforeseen adverse events (for example, such as Ukraine or Gaza) between now and the end of March 2024”.

Shanti Kelemen, chief investment officer at M&G Wealth, told the BBC’s Today programme that one advantage Ryanair had over its competitors was that it had a lot less debt.

“That just gives them more of an advantage in terms of the fares they can offer relative to their competitors,” she said.