Ryanair has reported a record profit after tax of €2.26bn for its 2025-26 financial year, a 40% increase on the prior year’s €1.61bn, as higher fares and resilient demand offset rising costs and capacity constraints.
The Irish low-cost carrier said group revenue rose 11% to €15.54bn. Scheduled revenue climbed 14% to €10.56bn, driven by 4% traffic growth to 208.4 million passengers and a 10% increase in average fares, recovering from a 7% decline the year before. Ancillary revenue grew 6% to €4.99bn, or about €24 per passenger.
Operating costs before exceptional items increased 6% to €13.09bn, around 1% higher per passenger, helped by fuel hedging that covered roughly 80% of jet fuel at $67 a barrel. The remaining unhedged portion has been exposed to price spikes linked to conflict in the Middle East.
Ryanair described travel demand as robust but noted that bookings are occurring closer to departure than a year ago, reducing visibility on future pricing. The airline warned that uncertainty around fuel prices and geopolitical risks, along with what it called zero visibility for the second half of the coming year, makes it too early to issue meaningful profit guidance for FY27.