DUBLIN, May 20 Reuters Ryanair on Monday posted a 34 yearonyear increase in annual profit to a record 1.92 billion euros 2.09 billion, and expressed cautious optimism that peak summer fares would be flat to modestly ahead of last year.

The result was slightly ahead of the 1.905 billion euros profit expected in a company poll of analysts. Ryanair cut its aftertax profit forecast to a range of 1.85 billion and 1.95 billion euros in January after some online travel agents suddenly stopped selling its flights.

The Irish airline, Europe39;s largest by passenger numbers, also said it would be 23 jets short of the number Boeing was due to deliver by the end of July and there remained a risk although unlikely that deliveries could slip further.

Chief Financial Officer Neil Sorahan told Reuters the new Boeing production team in Seattle were delivering planes with a bit more consistency and if things went well it could receive two or three more jets by the end of July.

Ryanair CEO Michael O39;Leary warned two weeks ago that summer airfares would likely be lower than the 5 to 10 rise it expected as recently as late April. The airline said on Monday its weaker forecast was heavily dependent on lastminute summer bookings.

The lowcost carrier flew a record 184 million passengers in the financial year ended March 31, and reiterated it hoped to grow traffic to 198 to 200 million passengers this fiscal year, having already cut that from 205 million in March due to the aircraft…