DUBLIN (Reuters) -Ryanair reported forecast-beating six-month post-tax profit on Monday and nudged up its passenger traffic forecast after earlier than expected Boeing ( BA ) deliveries and strong first-half demand.

The Irish airline, Europe's largest by passenger numbers, said it cautiously expects to recover all of last year's 7% average fare decline in its financial year to March 31, and that should lead to "reasonable" full-year net profit growth.

Ryanair expects to fly 207 million passengers to end-March, up from a previous forecast of 206 million after it received 23 new MAX 8 aircraft from Boeing ( BA ). Improved deliveries enabled it to add capacity for the current quarter.

The low-cost carrier said it is confident of receiving the six remaining MAX 8 aircraft from an order that had suffered long delays by February.

"The team at Boeing ( BA ) have transformed the place in the last 12 months," Group Chief Executive Michael O'Leary said in an analyst presentation.

"For the first time in many years we will have a full fleet complement by the time we switch to the summer schedule...and I think that will enable strong 4% traffic growth to about 215 million."

FUEL HEDGING EXTENDED AT LOWER PRICES

Ryanair's next order is for 150 of the new MAX 10 and with Boeing ( BA ) expecting to receive regulatory approval for the aircraft by mid-2026, according to O'Leary, Ryanair said on Monday it would begin to accelerate pilot recruitment in advance of the first deliveries due in early 2027.

Ryanair reported a net profit of 2.54 billion euros ($2.96 billion) for the six months to end-September, which is when it typically makes most of its profit due to the northern hemisphere's busy summer holiday season.

That was up 42% from 1.8 billion euros in the same period last year and ahead of a Ryanair poll of analysts that had expected 2.5 billion euros. Average fares grew by 13% year-on-year.

Chief Financial Officer Neil Sorohan said demand was weaker into November and required "a bit" of price stimulation but that demand was up marginally during the recent school mid-term holiday with forward bookings "slightly" ahead of the prior year, including for Christmas.

After previously hedging around 85% of its fuel needs for the year to end-March at $76 per barrel, Ryanair said it took advantage of recent price dips to extend hedging for its 2027 fiscal year to cover 80% of its needs at just under $67 a barrel.

($1 = 0.8575 euros)