14 AIRCRAFT ($1.4BN INVESTMENT), 55 ROUTES (7 NEW), AND 2.7M WINTER SEATS (+13%)

Ryanair, Europe’s No.1 airline, today (Tues, 3 Nov) announced its record Winter 2026 schedule for Porto, delivering 2.7m Winter seats (+13%) across 55 routes, including 7 exciting new routes to Catania, Gdansk, Hamburg, Liverpool, Nuremberg, Poznan, and Rabat, offering Portuguese citizens/visitors in the Norte Region even more choice at the lowest fares in Europe.

This substantial growth is supported by Ryanair’s addition of 2 new based aircraft at Porto for Winter 2026, representing an incremental $200m investment. Ryanair’s expanded Porto operation will continue to drive year-round traffic and tourism while supporting over 5,300 local jobs across the Norte Region.

Ryanair’s Porto Winter 2026 schedule will deliver:

• 55 routes, incl. 7 new routes to Catania, Gdansk, Hamburg, Liverpool, Nuremberg, Poznan, and Rabat
• 2 new based aircraft (14 total) – $1.4bn investment
• Increased freq. on 28 existing routes
• 2.7m seats, incl. +315,000 additional seats (+13%)
• 6.2m passengers p.a. (+4%)
• Supp. over 5,300 local jobs, incl. 420 highly‑paid local pilot and cabin crew jobs

To celebrate Ryanair’s record Porto Winter 2026 schedule the airline has launched a limited-time seat sale with fares from just €29.99 available to book now via the Ryanair App/website.

Ryanair CEO, Eddie Wilson, said:

“As Europe’s No.1 airline, Ryanair is delighted to announce its record schedule and 2 new based aircraft in Porto for Winter 2026, representing an additional $200m investment in the Norte Region. These 2 new aircraft bring Ryanair’s Porto-based fleet to 14 aircraft ($1.4bn investment) and will deliver an additional 315,000 low-fare Ryanair seats (+13%) this Winter across 55 routes, including 7 new routes to Catania, Gdansk, Hamburg, Liverpool, Nuremberg, Poznan, and Rabat. Ryanair’s expanded Porto operation will continue to drive year-round traffic and tourism while supporting over 5,300 local jobs, including 420 highly‑paid local pilot and cabin crew jobs, across the Norte Region.”

Ryanair today (Tues, 3 Nov.) released its Oct. 2026 traffic stats as follows:

Ryanair Holdings plc today (2 Nov.) reported H1 PAT of €2.15bn, a fall of 15% from PY H1 PAT of €2.54bn, as the price of unhedged jet-fuel doubled and fares (which include peak summer) fell 4%, while traffic grew 6% to 125.8m pax.

	Q2 26	Q2 27	+/-	H1 26	H1 27	+/-
Passengers	61.2m	64.5m	+5%	119.0m	125.8m	+6%
Load Factor	96%	96%	–	95%	95%	–
Ave. fare (€)	64.80	63.40	-2%	58.00	55.70	-4%
Revenue (€)	5.48bn	5.70bn	+4%	9.82bn	10.08bn	+3%
Op. Costs (€)	3.53bn	3.88bn	+10%	6.96bn	7.69bn	+10%
PAT (€)	1.72bn	1.61bn	-6%	2.54bn	2.15bn	-15%

H1 highlights include:

• Traffic grew 6% to 125.8m.
• Rev. per pax fell 3% (ave. fare down 4% & ancil. rev. flat).
• Unit costs rose 5% as unhedged 20% jet-fuel prices doubled to c.$130bbl.
• 126 new routes & 1 new base (Rimini) on sale.
• FY27 jet-fuel 80% hedged at $67bbl. FY28 is 25% covered at $95bbl.
• Final €1.2bn bond repaid in May.
• €0.273 interim div. declared (payable in Feb. 2027).

Ryanair CEO Michael O’Leary, said:

Revenue & Costs:

“H1 Revenue rose 3% to €10.08bn.  Scheduled revenue rose 1% to €7.0bn as traffic grew 6% but at 4% lower fares. H1 fares fell (April didn’t have a full Easter) as the Middle East conflict led to consumer hesitancy and later bookings. Ancillary revenue grew 6% to €3.08bn.  Operating costs rose 10% to €7.69bn as the price of our 20% unhedged jet-fuel doubled and supplier compensation ceased following delivery of our final B-8200 “Gamechanger” in Spring 2026.

Ryanair’s FY27 jet-fuel prices (80% hedged at c.$67bbl) has widened our cost advantage over other EU competitors and helped insulate current year earnings. While oil prices remain volatile, the Group has extended FY28 hedge cover on recent price dips to 25% at c.$95bbl. 

Balance Sheet, Liquidity & Returns:

Ryanair’s industry leading balance sheet and strong BBB+ credit ratings is supported by an unencumbered fleet of 620 B737 aircraft and strong liquidity.  At 30 Sept. gross cash was €2.6bn even after €1.3bn debt repayments, €0.8bn capex and €0.4bn shareholder distributions.  Liquidity is further boosted by the Group’s €1.1bn RCF which has c.€0.7bn undrawn. This financial strength widens the cost gap between Ryanair and our competitors, many of whom are heavily exposed to expensive (long-term) finance and aircraft lease costs.

In Sept. we completed our latest €750m buyback programme (cancelling c.28.6m shares). We have now retired over 40% of Ryanair’s issued share capital since 2008.  The Board remains committed to shareholder returns and today (in line with our policy) declared an interim dividend of €0.273 per share (payable in late Feb. 2027) and another €800m share buyback (starting in Feb., when cashflows are typically strongly positive ahead of summer travel). This latest buyback is expected to run for approx. 10-months (from late Feb.), subject to market conditions.

FLEET & GROWTH

We welcome the FAAs recent certification of the MAX-10, which we expect EASA will also certify before year end. This will enable Ryanair to take delivery of our first 16 MAX-10s in Spring 2027, in time for S.27. 

This winter (as we announced in Sept.) we have reduced the Group’s exposure to unhedged fuel by cutting our FY27 traffic target from 216m to 214m passengers. This schedule cut means winter traffic (Nov. to Mar.) will be broadly flat year-on-year. Next year, with 16 new MAX-10s in our S.27 fleet, we plan to grow traffic to over 220m passengers (+3%). We continue to allocate this scarce capacity to those States, Regions and Airports cutting aviation taxes and lowering fees to incentivise growth (such as Albania, Italy, Morocco, Slovakia and Sweden) while switching flights and traffic away from high tax/rising cost markets like Austria, Germany and Regional Spain. We have 126 additional routes and 1 new base (Rimini) on sale for S.27. 

We expect European short-haul capacity will remain constrained into the early 2030s as the big 2 OEMs remain well behind on their production targets, Pratt & Whitney delays continue, airline M&A accelerates and unprofitable airlines (hit by higher jet-fuel prices and strong US dollar) face a difficult winter, with some EU carriers already in Chapter 11.  These capacity constraints, combined with our widening cost advantage, strong balance sheet, low-cost (fuel-efficient) aircraft orderbook and industry leading ops resilience will, we believe, facilitate Ryanair’s sustainable, profitable growth to over 300m passengers p.a. by FY34. 

ESG

During H1 the Group operated 210 Gamechanger aircraft (4% more seats, 16% less fuel) and we expect to add the first 16 new Boeing MAX-10s into our fleet for S.27 (20% more seats & 20% less fuel). This winter we’ll complete the winglet retrofit programme on our B737NG fleet (1.5% lower fuel burn & 6% less noise).  Our continuing investment in new technology and operating resilience, coupled with ambitious SAF targets, makes Ryanair one of Europe’s most environmentally efficient airlines. Customer satisfaction (CSAT) scores improved to 90% this summer (PY: 89%) and the Ryanair Customer Panel recently met to provide valuable feedback on key customer touchpoints, incl. the future role of AI in travel. 

At 30 Sept., 30% of Ryanair’s issued share capital was held by EU nationals (in line with the level registered at 31 Mar. 2026).  EU nationals are entitled to exercise 100% of the voting rights in Ryanair Holdings plc, which ensures compliance with EU ownership and control requirement applicable to its EU airline subsidiaries.

OUTLOOK

FY27 traffic is expected to grow 3% to 214m while our unit cost leadership continues to widen. With 80% of jet-fuel hedged at c.$67bbl to Mar. 2027, this year’s earnings are well insulated from current oil price volatility, which also helped us to offset a further €300m EU enviro. tax increase, significant crew pay increases under new multi-year CLAs and higher maintenance.  Final FY27 unit costs (now spread over the lower 214m traffic target) will depend on the price of H2 unhedged jet-fuel.  While Q3 demand is strong, with fares trending modestly ahead of the same quarter last year, the booking window remains closer-in which reduces visibility. Q3s fare outcome will heavily depend on the strength of close-in Oct./Nov. school mid-term and Christmas bookings. As is normal at this time of year, we have zero Q4 visibility. It therefore remains too early to provide meaningful FY27 PAT guidance.  

The final FY27 PAT remains highly sensitive to adverse external developments, incl. conflict escalation in the Middle East and Ukraine, the price of our 20% unhedged jet-fuel, macro-economic shocks and the impact of European ATC disruptions (strikes & mismanagement).

Addressing FY28 Fuel Costs

Unless there is a swift resolution of the Middle East conflict, we expect jet-fuel prices to remain elevated well into 2027.  As low cost oil hedges roll off ahead of S.27, all EU airlines face a significantly higher fuel bill next year.  While we believe European short haul airfares will increase materially to reflect these much higher jet-fuel prices and competitor capacity reductions, this is still unlikely to provide a full offset for an estimated c.€2bn increase (based on current forward prices) in our FY28 fuel bill. To help address this, we’re reviewing all costs across Group airlines with a particular focus on airport churn negotiations (as the fuel efficient MAX-10s deliver from Spring 2027), maturing labour agreements (which may require temporary pay freezes), lower crewing ratios and increased use of AI to drive further operational and back-office/support functions productivity.”

Ryanair, Europe’s No.1 airline, today (Fri, 30 Oct) announced the extension of its exclusive partnership with the Erasmus Student Network (ESN) for the 2026/2027 academic year, marking the 10th consecutive year of collaboration between the two organisations.

The renewed partnership will continue to support Erasmus students travelling across Europe by providing ESN members with exclusive benefits, including a 15% discount on four one-way flights booked through the dedicated ESN platform on Ryanair’s website.

For the past decade, Ryanair and ESN have worked together to make international study opportunities more accessible for students. Through Ryanair’s extensive European network, Erasmus students can travel between their home country and host university country at a lower cost, while also exploring new destinations and cultures during their exchange experience.

The announcement comes as demand for Erasmus travel continues to soar, with Ryanair having carried over 1m Erasmus students since the launch of its partnership with ESN. Spain and Italy continue to lead as the most popular Erasmus destinations, representing almost 40% of all ESN registrations. Ryanair has also seen strong growth in Erasmus bookings across Ireland (+32%) and Poland (+20%) recording the highest increases, highlighting the continued expansion of student mobility across Europe.

With over 235 destinations across Europe, Ryanair continues to play a key role in connecting students with leading universities, international opportunities and cultural experiences throughout the academic year.

Ryanair’s Director of Comms, Jade Kirwan, said:

“At Ryanair, we understand that low fare travel is essential for students studying abroad. With that, we’re delighted to extend our exclusive partnership with the Erasmus Student Network for a 10^th consecutive year, continuing our support for students across Europe as they embark on one of the most exciting and transformative experiences of their lives.

Over the past decade, we have carried more than 1 million Erasmus students throughout Europe, and the numbers are only going up with a 5% increase in Erasmus students travelling with us last year.

We look forward to continuing our longstanding partnership with ESN, making student mobility accessible.”

Treasurer at ESN International, Maja Gozdowska, said:

“The Erasmus Student Network is delighted to announce the renewal of its partnership with Ryanair for the 10th consecutive year. Over the course of this long-standing collaboration, we have reached several significant milestones, including more than 1 million bookings. Every year, Ryanair supports students travelling to and from their mobility destinations, helping facilitate intercultural exchange and foster the development of young people’s skills and competences. We look forward to building on this success, achieving new milestones and celebrating a decade of successful partnership with Ryanair.”

Ryanair, Europe’s No.1 airline, today (Tues, 27 Oct) reminded all passengers that from Tues, 10 Nov next, airport bag drop services at all Ryanair airports will close 60 minutes before scheduled departure, instead of the current 40 minutes. Passengers using airport bag drop services should ensure they have checked their bags at least 60 minutes before departure.

This change, which was announced in April, will give the 20% of Ryanair passengers who check in a bag more time to clear airport security and passport control queues and reach their departure gate before boarding begins, particularly during busy travel periods. It will also help reduce the small number of passengers who miss their flights due to delays at airport security or passport control.

The remaining 80% of Ryanair passengers who don’t check in bags will be unaffected by this small 20-minute change and will continue to check in online before travelling to the airport and proceed directly through security to their departure gate.

Ryanair CMO, Dara Brady, said:

“From Tues, 10 Nov, bag drop services at all Ryanair airports will close 60 minutes before scheduled departure, instead of the current 40 minutes.

This small change will give the 20% of Ryanair passengers who check in a bag, more time to clear airport security and passport control queues and get to their departure gate before boarding begins, particularly during busy travel periods when airport queues can be longer.

We remind passengers using airport bag drop services to arrive at the airport in good time and ensure they have checked in and dropped their bags before check-in and bag drop closes 60 minutes before departure. The remaining 80% of passengers who check in online and do not check in a bag are unaffected by this change.”

Ryanair, Europe’s No.1 airline, today (Thu, 22 Oct) announced that it has carried over 3 million passengers through Madeira Airport since commencing operations to/from the airport in 2022.

Since the take-off of Ryanair’s first route from Madeira to Nuremberg 4 years ago. Ryanair has opened a 2 aircraft base, representing a $200m investment in the region and supporting over 580 local jobs, whilst strengthening Madeira’s links across Portugal and Europe, offering year-round connectivity and choice at the lowest fares for millions of passengers travelling to and from the region.

This Winter, Ryanair is operating 64 weekly flights across 5 routes to/from Madeira Airport, connecting passengers with popular travel destinations and key inbound tourism markets, including Ireland, Italy and Belgium, with flights now available to book for as little as €24.99 on Ryanair’s app/website.

Ryanair’s Director of Comms, Jade Kirwan, said:

“We are delighted to celebrate carrying over 3 million passengers through Madeira Airport since commencing operations 4 years ago. This significant milestone reflects the continued demand from Madeira citizens and visitors for Ryanair’s low fares, extensive route network, and industry-leading reliability.

This Winter, Ryanair is operating 64 weekly flights across 5 routes to/from Madeira Airport, connecting Madeira region with key tourism markets, including Spain, Malta and Poland, and we look forward to welcoming millions more passengers onboard in the years ahead.

Ryanair’s full Winter 2026 schedule is available to book now on the Ryanair app/website, with flights to/from Madeira Airport from as little as €24.99.”

Karen Strougo, Chief Commercial Officer at ANA Aeroportos de Portugal, said:

“Reaching 3M Ryanair pax at Madeira Airport is much more than an impressive number. It is the result of a strong partnership between ANA and Ryanair with great impact to Portugal, namely to Madeira Island. We look forward to building on this success together in the years to come.”

GIVING CUSTOMERS THE CHANCE TO BOOK EARLY AND AVAIL OF THE LOWEST FARES

Ryanair, Europe’s No.1 airline, today (Fri, 9 Oct) launched the first new routes of its Summer 2027 schedule, giving cost-savvy customers the chance to get ahead of the flock and bag themselves a bargain early bird fare. Ryanair is set to operate a bumper schedule in Summer 2027, with over 2,500 routes across the airline’s industry leading network of 230 destinations, delivering unbeatable choice and reliability to its more than 214 million customers p.a. across Europe.

Ryanair’s first 29 new Summer 2027 routes are available to book now on Ryanair’s app/website. As demand for summer travel builds over the coming months, customers looking to secure the lowest fares should book now before fares inevitably go up.

Ryanair CMO, Dara Brady, said:

“Ryanair is pleased to launch the first 29 new routes of what is set to be a bumper Summer 2027 schedule, giving our cost-savvy customers an early opportunity to start planning next year’s getaways. These are the first of our new Summer 2027 routes to go on sale, with more exciting additions to be announced as Ryanair continues to expand Europe’s largest route network. Customers looking to secure the lowest fares for their Summer 2027 travel should head to the Ryanair app/website and book now to get ahead of the curve.”