Ryanair has reported a record full-year profit as strong passenger demand and higher fares outweighed rising costs and ongoing aircraft delivery delays. The airline said post-tax profit for its 2025-26 financial year rose 40% to €2.26 billion (about $2.6 billion) from €1.61 billion a year earlier.
Traffic increased 4% to 208.4 million passengers, despite delays to the delivery of 29 Boeing 737-8200 aircraft. Revenue grew 11% to €15.54 billion, with scheduled revenue up 14% to €10.56 billion as average fares rose 10% following a decline in the previous year. Ancillary revenue climbed 6% to €4.99 billion, or €24 per passenger.
The carrier described travel demand as robust, even as bookings have shifted closer to departure and pricing has eased in recent weeks amid economic uncertainty and higher oil prices. Ryanair expects traffic to grow a further 4% to about 216 million passengers in FY27.
Fuel remains a key cost driver, with global jet-fuel prices elevated following conflict in the Middle East. Ryanair said around 80% of its FY27 jet-fuel requirement is hedged at roughly $67 per barrel, insulating earnings compared with unhedged rivals. The group ended the year with net cash of €2.1 billion and plans to repay its remaining €1.2 billion bond, leaving it effectively debt-free.
The airline also highlighted constrained short-haul capacity in Europe due to delayed aircraft deliveries and engine maintenance bottlenecks, conditions it believes will support yields as it targets growth to more than 300 million passengers annually by FY34.