Ryanair Q1 Profit Soars on Higher Fares and Travel Demand
Ryanair reported a sharp rise in net profit for the first quarter of fiscal year 2026, more than doubling its earnings as strong travel demand and higher fares lifted revenue. In financial results published on July 21, 2025, the airline posted a net profit of €820 million, up from €360 million in the same period last year, as passenger traffic increased 4% to 58 million and average fares surged by 21%.
Total revenue rose 20% year-over-year to €4.34 billion. Scheduled flight revenue led the way with a 26% increase to €2.94 billion, while ancillary revenue—including fees for baggage, seat selection, and onboard sales—grew 7% to €1.39 billion. Ryanair CEO Michael O’Leary attributed the strong results to favorable market conditions, including the full Easter holiday falling in April 2025 and better-than-expected late booking prices.
As of June 30, 2025, Ryanair reported a cash balance of €4.4 billion after spending €0.6 billion on capital expenditures and repaying €0.4 billion in debt.
Fleet growth and network expansion also played a key role in the airline’s performance. Ryanair received five new Boeing 737-8200 “Gamechanger” aircraft during Q1, bringing its fleet to 618 aircraft, including 181 737 MAX 8 jets. The carrier expects all 29 remaining Gamechangers in its 210-plane orderbook to arrive before summer 2026. Additionally, Ryanair anticipates certification of the Boeing 737 MAX 10 by late 2025, with 15 of 300 ordered jets set to begin arriving in spring 2027.
This summer, Ryanair is operating over 2,600 routes across Europe, including 160 new additions, with a focus on airports and regions that offer reduced aviation taxes and incentives for traffic growth. The airline expects European short-haul capacity to remain tight through 2030 due to OEM delivery delays, ongoing engine repairs for Airbus operators, and ongoing airline consolidation across the EU.
Despite the strong Q1, Ryanair adjusted its full-year traffic forecast due to delays in Boeing deliveries, now expecting FY26 traffic to increase by just 3% to 206 million passengers. The airline noted that its financial performance for the first half of FY2026 will depend heavily on late summer bookings in August and September.
While no formal guidance was issued, Ryanair stated it aims to recover nearly all of the 7% fare decline experienced last year. However, it cautioned that results could be affected by external risks, including geopolitical tensions, potential tariff conflicts, economic uncertainty, and air traffic control strikes in Europe.
With robust demand, expanding routes, and a growing fleet, Ryanair is on track for a solid fiscal year, though it remains alert to industry headwinds and global disruptions that could impact its outlook.
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