.
- Passenger traffic increased 6pc to 47.5m.
- Average fare increased €43 to €44
- Revenue per passenger €66
- Revenue per passenger rose 3pc, driven by 4pc higher fares and 1pc ancillary growth.
- Operating costs held flat per passenger before exceptional charge.
- Fleet reached 643 aircraft, including 206 Gamechangers.
- Fiscal year 2026 profit guidance set at €2.13bn to €2.23bn before exceptionals.
Ryanair Holdings plc has revealed a third-quarter profit after tax of €115m before exceptional items for the period ending 31 December 2025, down from €149m in the prior year. Revenue per passenger is €66 and average fare €44.
Passenger numbers rose by 6pc to 47.5m, while average fares increased by 4pc to €44, contributing to a 9pc growth in total revenue to €3.21bn.
Operating costs before exceptional charges climbed 6pc to €3.11bn, with unit costs remaining flat per passenger due to effective management strategies.
According to the results presentation the Ryanir cost per passenger is €35 compared with €62 for Wizz, €90 for Easyjet, €101 for Lufthansa, €170 for IAG, €171 for Lufthansa, and €253 for Air France/KLM.
The company confirmed an exceptional charge of €85m as a provision for about 33pc of a €256m fine imposed by the Italian AGCM, which is under appeal and expected to be overturned. Fleet expansion included 206 Boeing 737 Gamechanger aircraft by the end of the quarter, with three new bases and 106 new routes planned for summer 2026.
Fuel hedging secured 80pc of fiscal year 2027 needs at $67 per barrel, supporting cost stability amid rising environmental expenses.
The strength of the balance sheet strength was evident with gross cash of €2.4bn after debt repayments and shareholder distributions, alongside a BBB+ credit rating. The outlook for fiscal year 2026 projects traffic growth of 4pc to nearly 208m passengers, with full-year profit after tax before exceptional items guided between €2.13bn and €2.23bn. Environmental efforts saw upgrades in ratings from CDP and MSCI, bolstered by new aircraft deliveries reducing fuel consumption.
Ryanair Group CEO Michael O’Leary shared “We now expect FY26 traffic to grow 4pc to almost 208m passengers (previously 207m), due to strong demand and earlier than expected Boeing deliveries.”
“Q3 revenue rose 9pc to €3.21bn. Scheduled revenue increased 10pc to €2.10bn as traffic grew 6pc with 4pc higher fares, thanks to strong Oct. school mid-term and close-in Christmas/New Year bookings.”
“Both we and our Italian legal advisors are confident that the Courts will overturn the AGCM ruling on appeal.”
