Ryanair Holdings PLC Achieves Record Profit in FY26: Financial Overview and Future Outlook
Ryanair Holdings PLC reported a record profit after tax of €2.26 billion for the fiscal year ending March 31, 2026, marking a 40% increase from the previous year. The total revenue also saw a significant rise of 11% to €15.54 billion, driven by a 4% increase in passengers to 208.4 million. Scheduled revenue increased by 14% to €10.56 billion, with fares rising by 10% to around €51 per passenger. Ancillary revenue also grew by 6% to €4.99 billion, equivalent to €24 per passenger. Operating costs before exceptional charges went up by 6% to €13.09 billion, with unit costs increasing by 1%.
The company faced an exceptional charge of €85 million due to a fine imposed by Italy’s AGCM, which Ryanair is contesting on appeal. Despite this charge, the profit after tax on a reported basis stood at €2.17 billion. CEO Michael O’Leary refrained from providing full-year profit guidance due to uncertainties related to the Middle East conflict, fuel price fluctuations, and limited booking visibility. The company has hedged 80% of its fuel requirements for FY27 at approximately $67 per barrel through April 2027, aiming to mitigate the impact of volatile fuel prices.
Ryanair anticipates a mid-single digit percentage decline in Q1 fares compared to the previous year, with Q2 pricing expected to remain relatively stable. The company’s outlook for the year depends on the performance of close-in peak summer bookings. Despite concerns about fuel supply due to the conflict in the Middle East, Ryanair does not foresee a shortage this summer. The company maintains a strong financial position with gross cash of €3.60 billion as of March 31, 2026, and plans to repay its remaining €1.20 billion bond, becoming debt-free.
During the fiscal year, Ryanair repurchased approximately 21 million shares and declared a final dividend of €0.195 per share, pending AGM approval. The company projects a 4% increase in passenger traffic for FY27, targeting approximately 216 million passengers. With a fleet of 647 aircraft, including the Boeing 737-8200 Gamechanger jets, Ryanair expects Boeing MAX-10 certification by late summer 2026, with initial deliveries scheduled for spring 2027.