Ryanair Posts 42% Profit Rise, Predicts 207 Million Passengers in FY26

Ryanair reported a strong financial performance for the first half of its fiscal year, with a 42% increase in net profit to €2.54 billion, driven by a 3% rise in passenger numbers to 119 million and a 13% increase in average fares. The airline's revenues grew by 13% to €9.82 billion while operating costs increased modestly by 4%, aided by disciplined cost control and fuel hedging despite rising environmental and air traffic control charges. Ryanair's CEO Michael O'Leary criticized European regulatory inaction on competitiveness and outlined a strategic shift, allocating more capacity to lower-cost, growth-focused markets such as Sweden, Italy, Albania, Slovakia, and Morocco, while reducing presence in higher-cost countries like Germany and Austria. The airline's fleet expanded to 636 aircraft, including Boeing 737 MAX 8 “Gamechangers,” with early deliveries enabling capacity growth and a revised passenger forecast of 207 million for the fiscal year. Ryanair also announced continued fleet modernization with orders for Boeing MAX 10 aircraft expected to begin delivery in 2027 and declared an interim dividend, supported by a strong balance sheet with €3 billion in gross cash and a BBB+ credit rating. The company expects further growth with up to 300 million passengers by 2034, driven by consolidation in the sector and the exit of less competitive airlines.