46 ROUTES (12 NEW) & 4M PASSENGERS P.A. AT MODLIN & CHOPIN

Ryanair, Poland’s No.1 airline, today (Fri, 29 May) announced a record W2026 schedule for Warsaw, with 46 routes (12 new), and traffic growing to 4m passengers p.a. at Warsaw’s 2 airports, driven by capacity growth at both Warsaw Modlin and Chopin.

Ryanair will base 2 new aircraft at Modlin, bringing its total based fleet to 8 aircraft, representing a further $200m investment. This expansion will support 30 routes, including 5 new destinations, and double Ryanair’s annual traffic at Modlin from 1.5m to over 3.2m passengers. At Warsaw Chopin, Ryanair will also significantly grow its Winter 2026 schedule, adding 7 new routes, bringing its Chopin network to 16 routes, and growing traffic by over 50% to 800,000 passengers p.a., offering unbeatable low fares and more choice from Poland’s largest airport.

Ryanair’s Warsaw W2026 schedule will deliver:                                                                                                                                        

Warsaw Modlin

• 8 based aircraft (2 new)
• $800M investment
• 30 routes – 5 new (Bratislava, Bristol, Manchester, Shannon & Zagreb)
• Over 3.2m passengers p.a. (more than double last year)
• Over 2,500 jobs, including 240 high-paid Ryanair pilots & cabin crew

Warsaw Chopin

• 16 routes – 7 new (Bari, Bologna, Catania, Liverpool, Naples, Turin & Venice)
• Over 800K passenger p.a. (52% growth)
• Real low-fare choice for Warsaw citizens/visitors using Chopin

Ryanair continues to grow strongly in Warsaw and across Poland, with year‑round expansion at both Modlin and Chopin. Modlin remains Ryanair’s fastest growing Polish airport, under a multi‑year agreement that is delivering new terminal capacity, more routes and lower fares for the Mazovia region, while at Warsaw Chopin, Ryanair is steadily building its route network so that passengers who prefer Poland’s main airport, can also enjoy more route choices at really low fares.

To celebrate Ryanair’s record Warsaw W2026 growth from Modlin and Chopin, the airline has launched a 3-day seat sale with fares from just 134 PLN available to book now on ryanair.com/the Ryanair app.

Ryanair’s CEO Michael O’Leary said:

“As Poland’s No.1 airline, Ryanair is pleased to announce record growth in Warsaw, with 2 more based aircraft in Modlin for W2026, bringing our total Modlin fleet to 8 aircraft – an $800m investment, supporting over 2,500 local jobs, including 240 high-pay pilot and cabin crew jobs. With these 2 new aircraft, Ryanair will deliver a record W2026 schedule for Warsaw Modlin, including 5 new routes to Bratislava, Bristol, Manchester, Shannon, and Zagreb, which will see Warsaw Modlin traffic double to over 3.2m passengers p.a.

At the same time, we are rapidly expanding our network at Warsaw Chopin, where we will operate 16 routes this Winter, including 7 new routes to Bari, Bologna, Catania, Liverpool, Naples, Turin and Venice, and grow traffic by over 50% to 800,000 passengers. Across Warsaw’s 2 airports, Ryanair will deliver even more choice, more competition and Europe’s lowest fares for Warsaw citizens and visitors to enjoy in W2026.

Ryanair’s year‑round growth at both Modlin and Chopin is great news for Warsaw and for Polish consumers – more routes, more competition and much lower air fares than any other airline. To celebrate our biggest ever Warsaw schedule, we have launched a 3-day seat sale with over 100,000 seats on sale at fares from just 134 PLN. These are available to book now on ryanair.com/the Ryanair app, but we advise customers to book quickly to secure these low fares as seats will be snapped up fast on ryanair.com.

Ryanair, Europe’s No.1 airline, today (Tues, 26 May) announced a record W2026 schedule at Bratislava, with 23 routes including 4 new routes to Paphos, Tirana, Turin, and Warsaw, delivering 125% traffic growth to over 2.2m passengers p.a. To support this record W2026 schedule, Ryanair will add a 4^th based B737 aircraft in Bratislava from Oct 2026 – a $400m investment supporting over 1,600 local jobs, including 30 new high-paid pilot and cabin crew jobs.

Ryanair’s $400M investment and 125% traffic growth at Bratislava is a direct result of the proactive policy of the Slovak Govt and Transport Minister, Jozef Raž, to grow traffic and tourism by abolishing enviro taxes, lowering airport charges, and cutting ATC fees. This policy has made Slovakia Europe’s fastest growing aviation market in 2026 with record traffic growth of 170% in April.

Ryanair’s record Bratislava W2026 schedule will deliver:

• 4 based aircraft – $400m invest. in Slovakia
• 4 new routes – Paphos, Tirana, Turin, Warsaw (23 total)
• Over 2.2 m passengers p.a. (125% growth)
• Supports over 1,600 jobs, including 120 high-paid Ryanair pilot & cabin crew jobs

To celebrate Ryanair’s 4^th based aircraft and 4 new routes to/from Bratislava for W2026, the airline has launched a 3-day seat sale with fares from just €29.99 available to book now on ryanair.com/the Ryanair app.

Ryanair’s Michael O’Leary said:

“As Europe’s No. 1 airline, Ryanair is pleased to visit Bratislava today to announce even more growth, with a 4^th based B737 aircraft for W2026 – a $400m investment supporting over 1,600 local jobs, including 30 new high-paid pilot and cabin crew job. With this additional aircraft, Ryanair will deliver a record W2026 schedule for Bratislava, including 4 new routes to Paphos, Tirana, Turin, and Warsaw, which will see our Bratislava traffic grow 125% to over 2.2m passengers.

This rapid Ryanair growth is due to Slovakia’s pro-growth aviation policies – including zero enviro taxes, and lower ATC fees – which gives Slovak citizens/visitors even more low fare travel choices, while strengthening Bratislava’s position as one of Europe’s fastest growing airports. Lower access costs are the only way to deliver rapid growth, and Ryanair is confident that the Slovak Govt and Bratislava Airport will continue this successful low-cost/high-growth strategy, which has made Slovakia one of Europe’s fastest growing aviation markets.”

Bratislava Airport CEO Dušan Novota said:

“Over the past year, Ryanair has reached a major milestone in Bratislava, expanding its base from two aircraft to three and now four aircraft after more than a decade of operating a two-aircraft base. Thanks also to Ryanair’s continued growth, Bratislava has become one of the fastest-growing airports in Europe. As Ryanair has been a key and long-term partner of Bratislava Airport for more than 20 years, we highly value this successful cooperation and its continued growth in the Slovak market.”

Ryanair, today (25 May), repaid its last €1.2 billion bond leaving the Ryanair Group effectively debt free as it faces into a challenging summer of growth, at low fares.  This is the first time since Ryanair floated in 1997 that the airline has repaid all the debt, leaving it with an unencumbered fleet of 620 B737 aircraft.

Ryanair Group CFO, Neil Sorahan, said:

“Today is a historic day for Ryanair as our Group, following repayment of our final €1.2bn bond, is now effectively debt free.  Our fortress balance sheet is underpinned by an unencumbered B737 fleet of 620 aircraft, solid ratings (BBB+) from both Fitch Ratings and S&P and strong liquidity.  This financial strength further widens the cost gap between Ryanair and our competitors, many of whom are exposed to expensive (long-term) debt and aircraft leases and will enable Ryanair to continue to grow traffic at much lower fares than our competitors, bringing even more value to consumers all over Europe.

We raised this last remaining €1.2bn bond during the Covid crisis and we wish to sincerely thank our bond holders for their strong support over many years.  We look forward to (opportunistically) revisiting the bond markets at some stage in the future as we grow passenger traffic to 300m p.a. by FY34 and take up to 50 Boeing MAX-10 deliveries annually from 2029 onward.”

LUCKY RYANAIR SCRATCH CARD CUSTOMER WINS €10,000

Ryanair, Europe’s No.1 airline, today (Wed, 20 May) celebrated its latest onboard scratch card winner – 18 year old Faustino Vertice from Pompei, Italy – who won a whopping €10,000 on a €2 Ryanair Scratch Card purchased on a flight from Thessaloniki to Rome last December.

Mr. Vertice is the latest in a long line of Ryanair Scratch Card winners since the programme launched in 2009, including the lucky winner of Ryanair’s 2026 annual ‘Win A Million’ scratch card draw, who walked away with a life changing cash prize of €500,000 just last week. This lucky winner purchased the Ryanair Scratch Card in support of Naomi & Jacks – an independent charity that provides expert care for over 600 seriously ill babies, children and young adults. Naomi & Jacks is just one of the 13 amazing charities across Europe that benefit from Ryanair’s Scratch Card programme.

Ryanair’s Scratch Cards not only support incredible charities across Europe, but also offers passengers the chance to win a range of prizes, including:

• €10,000 cash prizes.
• A brand-new car.
• Ryanair onboard spend credit.
• Chance to qualify for the annual “Win A Million” grand prize draw.

Ryanair spokesperson, Aoife Greene said:

We are delighted for Faustino – our latest Ryanair Scratch Card winner, having bagged a whopping €10,000 cash prize on a €2 Ryanair Scratch Card he bought on his way home to Rome after a relaxing holiday in Thessaloniki last December. Ryanair’s Scratch Card programme continues to make a real difference to our charity partners across Europe doing extraordinary work for children and families in need, while also giving our passengers the opportunity to win fantastic prizes. We congratulate Faustino on his big win and thank all our passengers for continuing to support this meaningful onboard initiative.”

Ryanair Scratch Card Winner, Faustino Vertice said:

“I’m absolutely delighted – never in a million years did I think boarding that Ryanair flight home to Rome from my holiday in Thessaloniki that I would purchase a €2 Ryanair Scratch Card and win €10,000. I was convinced I wouldn’t win anything, but fortunately, that wasn’t the case. This incredible cash prize will make a huge difference for me and my family, as now I can also help out with the family if needed and I might even take a few trips around the world with Ryanair. I’m also extremely proud to have supported one of Ryanair’s charities across Europe at the same time.”

Ryanair Holdings plc today (18 May) reported record full-year (FY26) PAT of €2.26bn (pre-exceptional) up 40% over its prior-year PAT of €1.61bn.

FY26 highlights include:

• Traffic grew 4% to 208.4m, despite delivery delays on 29 B-8200 aircraft.
• Rev. per pax up 7%.
• Unit costs rose 1% (pre-except. charge).
• FY27 jet-fuel 80% hedged @ $668 met. tn.  
• All 210 B737 “Gamechangers” in 647 fleet at 31 Mar.
• 30 spare LEAP-1Bs purchased.
• Final div. of €0.195 per share payable in Sept. (subject to AGM approval).

Ryanair Group CEO Michael O’Leary, said:

Revenue & Costs:

“Group revenue rose 11% to €15.54bn.  Scheduled revenue increased 14% to €10.56bn as traffic grew 4% with 10% higher fares (recovering last year’s 7% fare decline). Ancillary revenue rose 6% to €4.99bn (€24 per pax).  Operating costs (pre-exceptional) rose 6% to €13.09bn (+1% per pax).  With all 210 B-8200 “Gamechangers” now delivered, other income fell reflecting significantly lower delivery delay compensation in FY26.  While our lawyers are confident that the baseless Italian AGCM fine levied in Dec. 2025 will be overturned on appeal, an exceptional €85m provision (approx. 33% of the €256m fine) is included as an exceptional charge in the FY26 results.

Jet-Fuel Hedging:

The conflict in the Middle East has created economic uncertainty and we still don’t know when the Strait of Hormuz will reopen.  Despite this, Europe remains relatively well supplied with jet-fuel, with significant volumes sourced from West Africa, the Americas and Norway.  Global jet-fuel spot prices have, however, spiked to over $150bbl and are expected to remain elevated versus pre-conflict levels for some months.  Ryanair’s conservative jet-fuel hedging strategy (80% of FY27 jet-fuel is hedged at approx. $67bbl – to April 2027) will insulate Group earnings in the current very volatile oil markets and widen the cost advantage over EU competitors for the remainder of FY27. 

Balance Sheet, Liquidity & Returns:

Our balance sheet is strong with a BBB+ credit rating (both Fitch and S&P) and an unencumbered B737 fleet of 620 aircraft. At 31 Mar. (year-end) gross cash was €3.6bn after €1.9bn capex spend, €1.2bn debt repayments and over €900m shareholder distributions.  Liquidity is further boosted by the Group’s RCF which has c.€1bn undrawn.  Net cash was €2.1bn, which enables the Group to repay its last €1.2bn bond next week leaving our group effectively debt free.  This financial strength further widens the cost gap between Ryanair and our competitors, many of whom are exposed to expensive (long-term) finance, rising aircraft lease costs and unhedged jet-fuel.

During FY26, we purchased (and cancelled) some 2% of issued share capital (over 20m shares) and have now retired c.38% of Ryanair’s issued share capital since 2008.  In line with our capital allocation policy, a final dividend of €0.195 per share is payable in Sept. (subject to AGM approval).  Over the coming year, our priorities include the May repayment of our last €1.2bn bond, funding our MAX-10 aircraft capex, our dividends and the balance of our (€750m) buyback programme from internal cashflows while rebuilding the Group’s gross cash back to €4bn.

FLEET & GROWTH

The Group’s year-end fleet of 647 aircraft (incl. all 210 Gamechangers) should facilitate 4% traffic growth to approx. 216m this year (FY27).  Boeing expect MAX-10 certification in late summer 2026 and have confirmed they expect to deliver Ryanair’s first 15 MAX-10s in Spring 2027 (in line with contract dates), with 300 of these fuel-efficient aircraft (20% less fuel & 20% more seats) due to deliver by Mar. 2034. 

Building on last year’s deal to buy 30 new CFM LEAP-1B engines, in Q4 Ryanair agreed a multi-year engine material services agreement to purchase CFM parts (both CFM56-7B and LEAP-1B) to support the Group’s 2 engine shop (MRO) project which will bring all of Ryanair’s engine maintenance in-house.  The first of these MROs are expected to be operational in early 2029 and we expect to identify the first location shortly.  Our second MRO should be operational in early 2030s.  When built, these 2 MROs will further widen the maintenance cost advantage that Ryanair has over competitor airlines.

Demand (despite the current Middle East conflict) remains robust, although the booking window is closer-in than last year.  Ryanair has 130 new S.26 routes on sale (incl. new bases in Rabat, Tirana and Trapani).  Our scarce FY27 capacity growth is allocated to those regions and airports who have cut aviation taxes and are incentivising traffic growth (such as Albania, Italy, Morocco, Slovakia and Sweden) as we switch flights and routes away from uncompetitive high tax markets like Austria, Belgium, Germany and Regional Spain.  With near term fuel prices likely to remain high, we urge all passengers book early on www.ryanair.com to secure the lowest airfares for S.2026 travel.

We expect European short-haul capacity to remain constrained until at least 2030 as the 2 big OEMs remain well behind on aircraft deliveries, Pratt & Whitney engine repair delays continue, EU airline consolidation accelerates and unprofitable airlines (further hit by high jet-fuel prices) have recently withdrawn capacity due to unhedged fuel costs which leaves them less able to compete with Ryanair’s much lower costs.  Industry 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 profitable growth to over 300m passengers p.a. by FY34. 

CEO CONTRACT & BOARD UPDATE

This Spring the Board commenced discussions with Michael O’Leary (“MOL”) on an extension of his employment contract with the Group (currently ends 2028) until April 2032.  These discussions have almost concluded and engagement with the Group’s largest institutional shareholders will commence in the coming days.  Under the proposed new contract, MOL will have a purchase option over 10m shares struck at market price (before the recent Iran war related decline), but (similar to his 2019 grant) these options will only be exercisable if very ambitious PAT or share price growth targets are achieved, which will create substantial value for all shareholders. A further update will be provided in due course.

Following a period of significant Board refreshment, Stan McCarty (Chairman) and Róisín Brennan (SID) have agreed to remain on the Board until Sept. 2029 & 2030 respectively to facilitate experienced management of the Group, orderly succession and onboarding of new NEDs.

ESG

Our significant investment in new technology and operational resilience, coupled with ambitious SAF commitments, positions Ryanair as one of Europe’s most environmentally efficient airlines.  During FY26 we took delivery of 34 new Gamechangers (4% more seats, 16% less fuel & CO₂) and 30 new spare LEAP-1B engines, while accelerating the retrofit of winglets to 75% of our B737NG fleet (1.5% lower fuel burn and 6% less noise).  The Group also recorded a record 89% CSAT score (PY: 86%). In recognition of the above, CDP (Carbon Disclosure Project) recently upgraded Ryanair’s climate rating to A (previously A-), MSCI reconfirmed the Group’s ‘A’ rating and Sustainalytics graded the Group as “low-risk”.

OUTLOOK

We expect FY27 traffic to grow 4% to 216m passengers.  While 80% of our FY27 jet-fuel requirements are hedged at c.$67bbl (lower than prior year), the price of our unhedged 20% has spiked due to the Middle East conflict.  Our EU enviro. taxes are expected to rise by a further €300m this year to c.€1.4bn which makes EU air travel even less competitive.  With maintenance costs rising (ageing NG fleet and mid-life “hospital visits” on B-8200 LEAP engines) and some significant crew pay increases agreed under newly negotiated multi-year CLAs, if unhedged fuel prices remain at current elevated levels then FY27 unit costs could rise by a mid-single digit percentage.  To date, S.26 travel demand remains robust although bookings are closer-in than last year reducing visibility. Pricing in recent weeks has eased somewhat in response to economic uncertainty caused by higher oil prices, the fear of fuel shortages and the risk of inflation adversely impacting consumer spending.  As always, Ryanair will pursue its “load-active/yield passive” strategy to drive traffic growth, ancillary revenue and lower unit costs.  With the first week of Easter falling into Mar. (benefitting Q4 FY26), we now expect Q1 fares to be behind (mid-single digit percentage) Q1 FY26 (which enjoyed a full-Easter).  With constrained EU short-haul capacity, we had originally expected S.26 fares to rise modestly (low single digits) ahead of last year.  Q2 pricing (with limited visibility) is now trending broadly flat and the final outcome will be totally dependent on close-in peak S.26 bookings and fares.  With zero H2 visibility and significant fuel price/potential supply volatility it is far too early to provide any meaningful FY27 profit guidance at this time. 

The final FY27 outcome remains heavily exposed to adverse external developments, incl. conflict escalation in the Middle East and Ukraine, risks to fuel supply shortages, higher for longer fuel prices on our unhedged 20%, macro-economic shocks and European ATC strikes & mismanagement. We hope to be able to give shareholders a clearer picture on H1 pricing and fuel costs during our Q1 results release in late July.”    

Ryanair, Europe’s No. 1 airline, today (14 May) announced the lucky winner of its 2026 annual ‘Win A Million’ scratch card draw, who walked away with a life changing cash prize of €500,000.

Longstanding Ryanair customer, Helen Swindells from Liverpool, joined the Ryanair team at Slane Castle, Co. Meath, Ireland on Wednesday (13 May) to play for a whopping sum of €1 million, having purchased a winning €2 Ryanair Scratch Card on a flight from Krakow to Liverpool in May 2025.

Ms. Swindells bought the Ryanair Scratch Card in support of UK charity, Naomi & Jacks – an independent charity that provides expert care for over 600 seriously ill babies, children and young adults. Naomi & Jacks is just one of the 13 amazing charities across Europe that benefit from Ryanair’s Scratch Card programme. Ms. Swindells had no idea at the time that purchasing this €2 Ryanair Scratch Card would lead to her winning an extraordinary €500,000, as part of Ryanair’s annual ‘Win A Million’ event.

Ryanair’s Scratch Card programme not only supports incredible charities across Europe, but also offers passengers the chance to win a range of prizes, including:

• €10,000 cash prizes
• A brand-new car
• Ryanair onboard spend credit
• Chance to qualify for the annual “Win A Million” grand prize draw

Speaking at Ryanair’s ‘Win A Million’ event, Helen Swindells said:

“I’m absolutely over the moon – never in a million years did I think boarding that Ryanair flight home to Liverpool from my holiday in Krakow that I would purchase a winning Ryanair Scratch Card. I only bought the scratch card because I wanted to support Naomi House & Jacksplace. It was only €2, so I thought ‘why not?’. Little did I know that I’d win and have the opportunity to got to Slane Castle with the Ryanair Team and participate in Ryanair’s annual ‘Win a Million’ event – an event that has changed my life forever. I knew there was a chance to win €1 million, but I just never thought I’d win anything close to that – let alone walking away with €500,000. It is completely life changing and I couldn’t be happier!”

Remarking on the phenomenal win, Ryanair’s Aoife Greene said:

“We are delighted for Helen on her incredible €500,000 Ryanair “Win a Million” win. Ryanair’s Scratch Card programme continues to make a real difference to our charity partners across Europe doing extraordinary work for children and families in need, while also giving our passengers the opportunity to win fantastic prizes.”

700,000 SEATS CUT, 12 ROUTES LOST AND 2 AIRPORTS CLOSED DUE TO FRAPORT GREECE AND ATHENS AIRPORT’S REFUSAL TO PASS THROUGH ADF CUT

Ryanair, Europe’s No. 1 airline, today (Fri, 8 May) announced the closure of its three aircraft Thessaloniki base and reductions in capacity at Athens Airport for Winter ‘26, resulting in the loss of 700,000 seats (-45%) and 12 routes for the upcoming Winter ’26 season. This devastating loss in off-peak winter connectivity is the direct result of the hopelessly uncompetitive costs charged at the German-run Fraport Greece monopoly and Athens Airport.

The Greek Govt. made the wise decision to reduce the Airport Development Fee (ADF) by 75% (from €12 to €3 per passenger) from November’24, which should have directly stimulated year-round connectivity and tourism across Greece. However, most Greek airports, particularly those run by Fraport Greece, refused to pass the tax cut onto passengers and instead have pocketed the tax cut for themselves. Since then, Fraport Greece have continued to increase charges, which are now +66% above their pre-Covid levels. Likewise, Athens Airport will hike charges this Winter.

Consequently, Greek airports are no longer competitive in the off-peak shoulder and Winter months, when the tourism industry’s reliance on low-fare connectivity is most acute. Ryanair has therefore been left with no choice but to reallocate capacity to more competitive countries like Albania, regional Italy, and Sweden where airports have passed on the savings from Govt. tax reductions. Ryanair’s reduced Winter ‘26 schedule for Greece will result in:

• -3 based aircraft at Thessaloniki (-US$300m investment)
• -700,000 seats (-45% versus Winter ‘25)
• -12 routes (Thessaloniki to Berlin, Chania, Frankfurt-H, Gothenburg, Heraklion, Niederrhein, Poznan, Stockholm, Venice-T, Zagreb, and Athens to Milan-M, and Chania to Paphos)
• -2 airports closed (Chania and Heraklion)

Ryanair presented an ambitious growth plan to the Greek Govt. to grow traffic to 12m passengers per annum (+70%), base 10 additional aircraft (+US1bn incremental investment) and launch 50 new routes over the next 5 years. However, this growth can only be delivered if airport charges are frozen and the 75% Airport Development Fee reduction is passed on to passengers at all airports. Regrettably, Greece will continue to miss out on investment opportunities, tourism and traffic development until Fraport Greece and Athens abandon their shameless practice of pocketing this tax cut.

Ryanair Chief Commercial Officer, Jason McGuinness said:

“Ryanair regrets to announce the closure of our Thessaloniki base and reductions in Athens for Winter ‘26, resulting in the loss of 700,000 seats and 12 routes across Greece, as well as the suspension of operations at Chania and Heraklion during the off-peak months. These preventable traffic reductions are a direct result of the airports’ failure to pass through the ADF reduction, particularly in Thessaloniki where the Fraport Greece monopoly have hiked airport charges +66% since 2019.

The removal of 3 based aircraft, 500,000 seats (-60% vs. Winter ‘25) and 10 routes from Thessaloniki for Winter ‘26 will be devastating for the city and region, as Ryanair provided 90% of international capacity to Thessaloniki last Winter. Unfortunately, there will now be less low-cost air fares for Thessaloniki’s citizens and visitors, and year-round tourism will be harmed as a result. These aircraft will be reallocated to Albania, regional Italy and Sweden, where airports have passed on their Govt’s aviation tax savings – resulting in more connectivity, tourism and jobs this Winter in those regions.

There is an opportunity for Greece to secure significant year-round traffic growth however, this investment can only be realised once the German-run Fraport Greece monopoly fully passes through the Greek Govt.’s sensible tax cut from November’24 – allowing airlines such as Ryanair, to deliver the connectivity required to reduce Greece’s chronic seasonality.”