Budget airline Ryanair has reported a 10.9m euro ($15.3m; £9.5m) net loss for the October to December quarter.

However, the loss was much smaller than the 101.5m euro deficit it reported for the same period in 2008.

Ryanair said the result had been helped by a 37% fall in fuel costs, which had offset a 12% fall in fares. It had also cut some loss-making routes.

The carrier also raised its full-year profit forecast, saying it now expected net profits of about 275m euros.