Ryanair Holdings has reported record full-year profits for FY26, with pre-exceptional profit after tax rising 40% to €2.26 billion, driven by higher fares and continued revenue growth.
Group revenue increased 11% to €15.54 billion as passenger traffic grew four per cent and average fares recovered by ten per cent following the previous year’s decline. Scheduled revenue rose to €10.56 billion, while ancillary revenue climbed six per cent to €4.99 billion, equivalent to €24 per passenger.
Operating costs increased six per cent to €13.09 billion, although costs per passenger rose by just one per cent. Ryanair also confirmed that all 210 Boeing 737-8200 “Gamechanger” aircraft have now been delivered.
The airline included an exceptional €85 million provision linked to an Italian competition fine issued in December 2025, although the company said it expects the ruling to be overturned on appeal.
Ryanair warned that instability in the Middle East and uncertainty surrounding the Strait of Hormuz have pushed jet fuel prices above US$150 per barrel. However, the carrier said its fuel hedging strategy, with 80% of FY27 fuel hedged at around US$67 per barrel, will help protect earnings and strengthen its cost advantage over competitors.
The group also highlighted its strong balance sheet, supported by a BBB+ credit rating and an unencumbered fleet of 620 Boeing 737 aircraft. At the end of March, Ryanair held gross cash of €3.6 billion and net cash of €2.1 billion, positioning the airline to repay its remaining €1.2 billion bond and become effectively debt free. (€1.00 = US$1.16 at time of publication).
