Ryanair Holdings plc today (3 Nov.) reported Q2 PAT of €1.72bn, up 20% on PY Q2 PAT of €1.43bn.   H1 PAT rose 42% to €2.54bn, as traffic grew 3% to 119m passengers while fares rose 13% due to a strong Easter, weak prior-year comps and Q2 fare recovery.

H1 highlights include:
• Traffic grew 3% to a record 119m.
• Rev. per pax up 9% (ave. fare +13% & ancil. rev. +3%).
• Strong cost control as unit costs rise just 1%.
• 199 B737 “Gamechangers” in 636 fleet at 30 Sept.
• 2 new bases & 91 new routes (over 2,500) on sale for S.26.
• Jet fuel hedges extended: 80% of FY27 at just under $67bbl.
• Ryanair added to MSCI Global & FTSE Russell indices.
• €0.193 interim div. per share declared (payable in Feb. 2026).

H1 REVIEW

Ryanair Group CEO Michael O’Leary, said:

Revenue & Costs:

“H1 revenues rose 13% to €9.82bn.  Scheduled revenue increased 16% to €6.91bn as traffic grew 3% but fares rose 13%.  Fares benefitted from having the full Easter holiday in Q1 (with weak prior-year comps) and we achieved a full recovery of the 7% fare decline we suffered in last years Q2.  Ancillary revenue was solid, rising 6% to €2.91bn.  Operating costs rose 4% (+1% per pax) to €6.96bn as our fuel hedges helped offset higher ATC fees (up 14%) and enviro. costs (ETS allowance unwind and SAF blend mandates from last Jan.).

H2 FY26 fuel is c.85% hedged at $76bbl (de-risking the Group for the remainder of this year) and we’ve taken advantage of recent price dips to extend our FY27 hedge cover to 80% at just under $67bbl, locking in price savings of over 10% in our fuel costs next year. 

Balance Sheet, Liquidity & Returns:

Ryanair’s balance sheet is strong with a BBB+ credit rating (both Fitch and S&P) and unencumbered B737 fleet (610 aircraft).  At 30 Sept., gross cash was €3bn after €1.2bn debt repayments (incl. our €850m bond in Sept.), €1.1bn capex and €0.4bn shareholder distributions.  Liquidity is further boosted by the Group’s RCF which has c.€1bn undrawn.  Net cash rose to over €1.5bn from €1.3bn at 31 Mar., leaving the Group well positioned to fund capex and repay our last remaining bond (€1.2bn) in May 2026 from internal cash resources.  This financial strength widens the cost gap between Ryanair and our competitors, many of whom remain exposed to expensive (long-term) finance and rising aircraft lease costs.

In May, we launched a €750m share buyback.  At 30 Sept. we had purchased (and cancelled) over 7m shares (approx. 25% of programme) at a cost of €188m.  Today, the Board (in line with Ryanair’s dividend policy) declared an interim dividend of €0.193 per share (payable in late Feb. 2026).

FLEET & GROWTH

Boeing’s improved deliveries continued through S.25 and into Oct., enabling our Group to carry extra passengers in H1 and selectively add capacity over the peak Oct. mid-term school holidays and into the Christmas/New-Year peak travel period.  Ryanair had 204 B737-8200 “Gamechangers” in its 641 fleet at the end of Oct. and we’re confident that the last 6 remaining Gamechangers (210 orderbook) will deliver well ahead of S.26, facilitating 4% traffic growth to 215m next year (FY27).  Boeing expects MAX-10 certification in mid 2026 and they expect to meet our contract delivery dates for our first 15 MAX-10s in Spring 2027, with 300 of these fuel-efficient aircraft due to deliver by Mar. 2034.  As part of our preparations for the MAX-10s, we need to accelerate cadet and first officer (“FO”) recruitment for the next 3 years.  While this investment in training and growth (approx. €25m p.a.) will increase FO crewing ratios for up to 3 years, it will provide a strong pool of home-grown FOs ready for promotion to Captains when MAX-10 deliveries ramp-up in FY29/FY30.  We’ve also taken advantage of recent US$ weakness and hedged approx. 35% of our MAX-10 firm order (150 aircraft) capex at an average €/$ rate of 1.24, locking-in further capex savings on these low-cost aircraft. 

This winter, we’ve allocated Ryanair’s scarce capacity to those regions and airports cutting aviation taxes and incentivising traffic growth such as Sweden, Slovakia, Italy, Albania and Morocco by switching flights and routes away from high cost, uncompetitive markets like Germany, Austria and regional Spain.  This trend will continue into S.26, with over 2,500 routes now on sale (incl. new bases in Tirana and Trapani and 91 additional routes).

We expect European short-haul capacity to remain constrained to at least 2030 as the big 2 OEMs remain behind on aircraft production, Pratt & Whitney engine repairs continue to be an issue for many Airbus operators, EU airline consolidation accelerates (incl. Air Europa, SAS & TAP) and unprofitable airlines withdraw capacity from markets where they are unable to compete with Ryanair’s lower costs.  Industry capacity constraints, combined with our widening cost advantage, strong balance sheet, low-cost aircraft orderbook and industry leading ops resilience will, we believe, facilitate Ryanair’s controlled profitable growth to 300m passengers p.a. by FY34. 

ESG

During H1 we took delivery of 23 new Gamechangers (4% more seats, 16% less fuel & CO₂) and benefitted from the retrofit of winglets to approx. 60% of our B737NG fleet (1.5% lower fuel burn and 6% less noise).  Our 409 NGs will be retrofitted by the end of 2026 and we expect to have all 210 Gamechangers in our fleet well ahead of S.26.  We recently agreed to purchase 30 CFM LEAP-1B spare engines (a $500m commitment) to improve our operational resilience.  Over 50% of these engines were delivered at 30 Sept., with the balance expected in coming months.  These latest technology engines reduce fuel consumption and CO₂ emissions per seat by up to 20%.  The Groups significant investment in new technology, coupled with ambitious SAF commitments, positions Ryanair as one of Europe’s most environmentally efficient airlines.

As expected, following the lifting of the prohibition on non-EU nationals purchasing Ryanair’s ord. shares in Mar. (while continuing to apply voting restrictions) and Ryanair’s inclusion in the MSCI Global and FTSE Russell indices, we’ve seen increased global investor interest.  At 30 Sept. the proportion of Ryanair’s issued share capital held by EU nationals was 33% (significantly above the 20% threshold for potential re-introduction of purchase restrictions), while 100% of voting rights remained in the hands of EU investors.

EUROPE IS FAILING ON COMPETITIVENESS

We remain concerned that Ursula von der Leyen (and her new Commission) have done nothing, over the past 14 months, to improve European competitiveness by implementing the Sept. 2024 Draghi Report recommendations.  Europe’s airlines have called for a level playing field on enviro. taxes, by bringing ETS rates into line with CORSIA, and urgent ATC reform by protecting overflights during national strikes, and ensuring that Europe’s major ATC providers in France, Germany, and Spain are fully staffed for the first wave of daily departures.  These reforms are urgent and it’s about time President von der Leyen stopped talking about reform and started to deliver it.

While the Commission stands idly by, the EU Parliament is proposing even more stupid rules (such as further increasing free carry-on luggage limits – even though there is no room in the aircraft cabin for these extra bags) which will only lead to more airport security and flight delays as well as higher costs, and higher fares for Europe’s consumers.

OUTLOOK

FY26 traffic is now expected to grow by more than 3% to 207m passengers (previously 206m), due to earlier than expected Boeing deliveries and strong H1 demand.  Unit costs performed well in H1 and, as previously guided, we expect only modest FY26 unit cost inflation as our B-8200 deliveries, fuel hedging and effective cost control across the Group helps offset increased ATC charges, higher enviro. costs and the roll-off of last years modest delivery delay compensation.  While Q3 forward bookings are slightly ahead of PY, particularly across the Oct. mid-term and Christmas peaks, we would caution that we face more challenging PY fare comps in H2 making fare growth more challenging.  Q3s fare outcome will be determined by close-in Christmas and New Year bookings.  As is normal at this time of year, we have zero Q4 visibility and there is no Easter benefit in this year’s Q4. 

It remains too early to provide meaningful FY26 PAT guidance.  We do, however, cautiously expect to recover all of last years 7% full-year fare decline, which should lead to reasonable net profit growth in FY26.  The final FY26 outcome remains exposed to adverse external developments, incl. conflict escalation in Ukraine and the Mid. East, macro-economic shocks and any further impact of repeated European ATC strikes & mismanagement.”    

LES MEMBRES RYANAIR PRIME ÉCONOMISENT DÉJÀ PRÈS DE 650 €

Ryanair, première compagnie aérienne d’Europe, a annoncé aujourd’hui (le vendredi 31 octobre) son offre exclusive “Membre Prime” pour le mois de novembre, donnant droit à 30 € de réduction sur les vols aller-retour opérés entre le 18 décembre et le 8 janvier. Cette vente flash exclusive de 48 heures est réservée aux membres Ryanair Prime. Les voyageurs sont donc invités à s’inscrire avant le lancement de cette vente, le vendredi 31 octobre, afin de profiter de tarifs réduits et d’autres avantages réservés aux membres Prime, tels que les sièges réservés gratuits et l’assurance voyage offerte.

Cette vente de novembre est la huitième promotion mensuelle depuis le lancement du programme d’abonnement Prime à 79 € par an, en mars. Les membres Prime ont déjà accumulé près de 650 € d’économies depuis le début de l’année. Les huit ventes mensuelles de sièges à elles seules ont permis aux membres d’économiser 340 €, soit plus de quatre fois le coût de l’abonnement Prime de 79€.

Dara Brady, CMO de Ryanair, a déclaré :

“Nous sommes ravis de lancer notre vente Membre Prime de novembre, disponible dès le vendredi 31 octobre pour seulement 48 heures. Les membres Prime peuvent bénéficier de 30 € de réduction sur les vols aller-retour entre le jeudi 18 décembre et le jeudi 8 janvier — l’occasion parfaite pour découvrir les marchés de Noël européens ou commencer la nouvelle année par une escapade.

Avec Prime, les membres profitent de réductions exclusives tout au long de l’année, allant des économies sur les vols et sièges à des offres sur de nombreux services de voyage, pour seulement 79 € par an.
Ne manquez pas cette opportunité ! Inscrivez-vous dès aujourd’hui et profitez des mêmes avantages et économies déjà plébiscités par des milliers de membres.“

RYANAIR PRIME-MITGLIEDER PROFITIEREN VON FAST 650 € ERSPARNIS

Ryanair, Europas Fluggesellschaft Nr. 1, hat heute (Freitag, 31. Oktober) ihr exklusives November-Angebot für Prime-Mitglieder veröffentlicht, mit dem Mitglieder 30 € Rabatt auf Hin- und Rückflüge zwischen dem 18. Dezember und dem 8. Januar erhalten. Dieses exklusive 48-Stunden-Angebot gilt nur für Ryanair Prime-Mitglieder. Eine Anmeldung vor dem Start des zweitägigen Verkaufs am Mittwoch, dem 31. Oktober, ermöglicht Sparen bei Flugpreisen sowie weitere Vorteile für Prime-Mitglieder, darunter kostenlose Sitzplatzreservierungen und eine kostenfreie Reiseversicherung.

Dieser Prime-Member-Sale im November ist der achte monatliche Sitzplatz-Sale seit Ryanair im März ihr 79-Euro-Abonnentenprogramm gestartet hat. Prime-Mitglieder haben bis heute bereits fast 650 Euro gespart, bei einer 12-monatigen Mitgliedschaft, die nur 79 Euro kostet. Allein durch den achten monatlichen Sitzplatzverkauf von Ryanair haben Prime-Mitglieder 340 Euro gespart, mehr als das Vierfache der 79 Euro, die die Prime-Mitgliedschaft kostet.

Ryanair CMO, Dara Brady, sagte:

„Wir freuen uns, unseren November-Sitzplatz-Sale für Prime-Mitglieder anzukündigen, der am Freitag, dem 31. Oktober beginnt und nur 48 Stunden andauert. Prime-Mitglieder erhalten 30 € Rabatt auf Hin- und Rückflüge für Reisen zwischen Donnerstag, dem 18. Dezember, und Donnerstag, dem 8. Januar – die perfekte Gelegenheit, um die zauberhaften Weihnachtsmärkte Europas zu erkunden oder das neue Jahr mit einem Kurzurlaub zu beginnen.

Mit Prime profitieren Mitglieder das ganze Jahr über von unschlagbaren Vorteilen, von Ersparnissen bei Flügen und Sitzplätzen bis hin zu tollen Extra-Angeboten – und das alles für nur 79 € pro Jahr. Verpassen Sie diese Gelegenheit nicht! Melden Sie sich noch heute bei Prime an und profitieren Sie von den gleichen fantastischen Rabatten und Vorteilen, die bereits Tausende von Mitgliedern schätzen.“

CZŁONKOWIE RYANAIR PRIME MOGĄ ZAOSZCZĘDZIĆ PRAWIE 650 EURO

Ryanair, największa linia lotnicza w Europie, ogłosiła dzisiaj (piątek, 31 października) swoją ekskluzywną ofertę „Prime Member”, w ramach której członkowie otrzymają 30 euro zniżki na loty w obie strony w okresie od 18 grudnia br. do 8 stycznia 2026 r. Ta trwająca 48 godzin oferta jest dostępna wyłącznie dla członków programu Ryanair Prime, więc należy się zarejestrować, aby zaoszczędzić na cenach biletów i skorzystać z innych korzyści dla członków programu Prime (takich jak bezpłatna rezerwacja miejsc i bezpłatne ubezpieczenie podróżne).

Listopadowa wyprzedaż dla członków Prime to już ósma z kolei comiesięczna wyprzedaż biletów od czasu wprowadzenia przez Ryanair w marcu programu Prime dla subskrybentów. Jego koszt wynosi 79 euro. Po kilku miesiącach działania programu Prime jego członkowie zaoszczędzili dotychczas prawie 650 euro, a koszt 12-miesięcznego członkostwa wynosi zaledwie 79 euro. Tylko dzięki ósmej wyprzedaży biletów członkowie Prime oszczędzają 340 euro, czyli ponad czterokrotność kosztu członkostwa Prime.

Dara Brady, Chief Marketing Officer w Ryanair powiedział:

„Z radością ogłaszamy uruchomienie naszej listopadowej wyprzedaży dla członków Prime, która rozpocznie się w piątek 31 października br. i potrwa tylko 48 godzin. Członkowie Prime mogą skorzystać ze zniżki 30 euro na loty w obie strony w okresie od czwartku 18 grudnia br. do czwartku 8 stycznia 2026 r. To idealna okazja, aby odwiedzić świąteczne jarmarki w Europie lub rozpocząć nowy rok.

Członkowie Prime przez cały rok mogą korzystać z bezkonkurencyjnych ofert, od ekskluzywnych zniżek na loty i miejsca w samolocie, po atrakcyjne promocje na dodatki podróżnicze. A wszystko to za jedyne 79 euro rocznie. Nie przegap tej okazji! Zarejestruj się w Prime już dziś i zacznij korzystać z tych samych niesamowitych zniżek i korzyści, które doceniły już tysiące członków”.

OLTRE 650 € DI RISPARMIO PER I MEMBRI PRIME

Ryanair, la compagnia aerea numero 1 in Europa, ha lanciato oggi (venerdì 31 ottobre) la sua esclusiva offerta “Prime Member” per novembre, che offre ai suoi membri 30€ di sconto sui voli di andata e ritorno operativi dal 18 dicembre all’8 gennaio. Questa vendita esclusiva di 48 ore è riservata solo ai membri Ryanair Prime: iscriviti entro oggi, venerdì 31 novembre, prima che la promozione di 2 giorni inizi, per risparmiare sulle tariffe e approfittare di altri vantaggi per i membri Prime, come i posti riservati gratuiti e l’assicurazione di viaggio inclusa.

La promozione di novembre per i membri Prime è l’ottava promozione mensile lanciata da Ryanair dal lancio, avvenuto a marzo, del programma di abbonamento da 79€. I membri Prime hanno accumulato finora quasi 650€ di risparmi a fronte di un costo di abbonamento annuale di soli 79€. Solo le vendite dell’ottavo mese hanno permesso ai membri Prime di risparmiare 340€, oltre quattro volte il costo dell’abbonamento Prime di 79€.

Dara Brady, Chief Marketing Officer di Ryanair, ha dichiarato: 

“Siamo entusiasti di lanciare la nostra promozione di novembre riservata ai membri Prime, attiva da venerdì 31 ottobre per sole 48 ore. I membri Prime possono usufruire di 30€ di sconto sui voli di andata e ritorno per viaggi dal giovedì 18 dicembre a giovedì 8 gennaio, l’occasione perfetta per visitare i magici mercatini di Natale europei o iniziare il nuovo anno con una fuga.

Con Prime, i membri ottengono vantaggi imperdibili tutto l’anno, dagli sconti esclusivi su voli e posti a sedere a offerte speciali su extra di viaggio, il tutto a soli 79€ all’anno. Non lasciarti sfuggire l’opportunità! Iscriviti oggi a Prime e inizia a godere degli stessi incredibili risparmi e benefici già apprezzati da migliaia di membri.“

LOS MIEMBROS PRIME DE RYANAIR DISFRUTAN DE CASI 650€ EN AHORROS

Ryanair, la aerolínea nº1 de Europa, ha lanzado hoy (viernes 31 de octubre) su oferta exclusiva para “Miembros Prime” de noviembre, ofreciendo a los miembros 30 € de descuento en vuelos de ida y vuelta operados entre el 18 de diciembre y el 8 de enero. Esta oferta exclusiva de 48 horas está disponible únicamente para los miembros de Ryanair Prime, así que regístrate antes de que comience esta oferta de 2 días el viernes 31 de octubre, para ahorrar en tarifas y disfrutar de otros beneficios para miembros Prime, como asientos reservados gratuitos y seguro de viaje gratuito.

Esta oferta de noviembre para miembros Prime es la octava venta mensual de asientos desde que Ryanair lanzó su esquema de descuento para suscriptores de 79 € en marzo, con los miembros Prime acumulando hasta la fecha casi 650 € en ahorros por una membresía anual que cuesta solo 79 €. Solo con las ocho ventas mensuales de asientos, los miembros Prime ahorraron 340 €, más de cuatro veces el costo de la membresía Prime de 79 €.

Dara Brady, CMO de Ryanair, ha declarado:

“Nos complace anunciar nuestra oferta de asientos para miembros Prime de noviembre, que estará disponible a partir del viernes 31 de octubre durante solo 48 horas. Los miembros Prime pueden disfrutar de 30 € de descuento en vuelos de ida y vuelta para viajar entre el jueves 18 de diciembre y el jueves 8 de enero, la oportunidad perfecta para explorar los mágicos mercadillos navideños de Europa o comenzar el año nuevo con una escapada.

Con Prime, los miembros obtienen un valor inmejorable durante todo el año, desde ahorros exclusivos en vuelos y asientos hasta grandes ofertas en extras de viaje, todo por solo 79 € al año. ¡No te lo pierdas! Regístrate en Prime hoy mismo y comienza a disfrutar de los mismos increíbles descuentos y ventajas que ya disfrutan miles de miembros.”

RYANAIR PRIME MEMBERS ENJOY ALMOST €650 IN SAVINGS

Ryanair, Europe’s No.1 airline, today (Fri, 31 Oct) released its exclusive “Prime Member” offer for November, giving members €30 off return flights operating between 18 December to 8 January. This exclusive 48hr sale is available only to Ryanair Prime members, so sign up before this 2-day sale goes live on Fri, 31 October, to save on fares and other Prime Member benefits, like free reserved seats and free travel insurance.

This November Prime Member sale is the eighth monthly seat sale since Ryanair launched its €79 subscriber discount scheme in March, with Prime members accumulating almost €650 in savings to date for a 12-month membership cost of just €79. Ryanair’s eighth-monthly seat sales alone saved Prime members €340, over four times €79 cost of Prime membership.

Ryanair CMO, Dara Brady said:

“We’re excited to launch our November Prime Member Seat Sale, going live on Friday, 31 October, for just 48 hours. Prime members can enjoy €30 off return flights for travel between Thursday, 18 December and Thursday, 8 January, the perfect opportunity to explore Europe’s magical Christmas markets or kick off the new year with a getaway.

With Prime, members unlock unbeatable value all year round, from exclusive flight and seat savings to great deals on travel extras, all for just €79 a year. Don’t miss out! Sign up to Prime today and start enjoying the same amazing savings and benefits already loved by thousands of members.”