Ryanair reports average fare down 7pc to €46.42 in 2024
Ryanair shares rose 4.5pc as markets reacted to the airline’s full year results for 2025.
In the conference call CFO Neil Sorahan and CEO Michael O’Leary sid that the profit decline was due to lower fares, but results aligned with analyst estimates (€1.61 bn net profit).
Ryanair CEO Michael O’Leary expressed frustration over the Dublin Airport passenger cap. Mr O’Leary remarked that delays in legislation pertaining to the airport cap hinder long-term planning for airlines and highlighted issues regarding overseas visitors to Ireland.
Ryanair anticipates a rise in passenger numbers to 36m at Dubin airport this year, but warns that without changes to the cap, numbers may need to be reduced in 2026.
The airline is facing challenges with new aircraft deliveries, and expects growth to be limited in the coming years due to these delays.
Ryanair reiterated its emphasis on shareholder returns through dividends and a resilient business model. Ryanair operated a fleet of approximately 594 aircraft, with plans to grow to 300m passengers annually by FY34, supported by 340 Boeing 737s on order. Over 160 new routes have been added for Summer 2025, enhancing network growth.
- FY26 Customer Guidance: Ryanair reaffirmed its target of 206m passengers for FY26, supported by strong summer demand and recovering pricing trends.
- Summer Demand: Positive outlook for Summer 2025, with signs of recovery in bookings and pricing.
- Cost Management: Rising costs were a challenge, but Ryanair’s low-cost model and operational efficiency helped mitigate impacts.
- Sustainability: Continued focus on reducing CO2 emissions, with monthly stats reported (e.g., 64g CO2 per passenger/km in February 2025).
- Boeing is “getting its act together” on aircraft deliveries, according to Michael O’Leary.
Mr O’Leary shared: “The Government has been in place for five months with a 20-seat majority and nothing has been done, despite election commitments, to sort this out. It’s all very well emoting about the Palestinians, but where is the legislation abolishing the cap at the airport We are working closely with Boeing to accelerate deliveries and are increasingly confident that the remaining 29 ‘gamechangers’ in our 210 orderbook will deliver well ahead of summer ’26.”
