http://www.bbc.co.uk/news/business-22593246 Chief executive Michael O'Leary said: "Delivering a 13% increase in profits and 5% traffic growth despite high oil prices during a European recession is testimony to the strength of Ryanair's ultra-low cost model." But he warned that growth would be slower in the 2013-14 financial year at Europe's largest budget airline, thanks to rising oil prices and "unjustified higher Eurocontrol and Spanish airport charges". The company is forecasting net profits in the range of 570m to 600m euros for the coming year. In March, Ryanair placed an order with Boeing for 175 planes worth £10.3bn ($15.6bn) to be delivered between 2014 and 2018. The deal will increase its fleet by a third to 400 planes.