Ryanair is to invest in 32 new aircraft in a bid to double its passenger numbers by 2012.
The new Boeing 737-800s are valued at over $2 billion and are due to be delivered between September 2008 and June 2009.
At present, Ryanair carries some 42 million passengers a year, a number it is hoping to increase to 84 million.
The budget airline also raised its full year net profit guidance to €335 million, a growth of 11 per cent instead of the 5 per cent to 10 per cent growth previously anticipated.
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Michael O'Leary, chief executive of Ryanair, said the ailrine's outlook for the winter remained cautious.
Ryanair is planning to launch 106 new routes and two new bases in Marseilles and Bremen during the winter.
