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Jun 30, 2025
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Ryanair Q1 2026 Earnings Report
Ryanair reported strong Q1 FY26 results with higher fares and profit growth.
Key Takeaways
Ryanair delivered solid Q1 FY26 earnings driven by a 21% increase in average fares, modest cost growth, and strong Easter travel demand, resulting in net income more than doubling year-on-year.
Net income rose to €820M, up 128% YoY
Revenue grew 20% to €4.34B on higher fares
Average fare increased 21% to €51
Fuel hedging locked 84% of FY26 needs at $76/bbl
Revenue by Geographic Location
Forward Guidance
Ryanair expects modest traffic growth for FY26, with strong demand but lingering macro risks.
Positive Outlook
- FY26 traffic to grow 3% to 206M pax
- Q2 demand remains robust
- Fares expected to recover most of prior-year decline
- Strong fuel hedges mitigate cost pressures
- Liquidity supports bond repayments and fleet growth
Challenges Ahead
- Econ. downturn could pressure fares
- Tariff wars and macro shocks remain risks
- H2 FY26 visibility remains zero
- Higher ATC and environmental costs expected
- Boeing delivery delays constrain growth
Historical Earnings Impact
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Avg. Return Before/After Earnings
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