Ryanair has reported a first-quarter profit after tax (PAT) of €820 million for the period ending June 2025, more than double the €360 million reported in Q1 last year. The increase was driven by a 4% rise in passenger numbers to 57.9 million and a 21% jump in average fares, boosted by strong Easter holiday travel and robust close-in pricing.
Revenue rose by 20% to €4.34 billion, while operating costs increased by just 5% to €3.42 billion—reflecting Ryanair’s continued cost discipline and strong fuel hedging position. The airline is now 85% hedged for FY26 at $76 per barrel.
Ryanair’s CEO Michael O’Leary highlighted the group’s growing cost advantage and resilience, with 181 fuel-efficient Boeing 737 Gamechangers now in the fleet and 30 additional CFM LEAP engines recently purchased to support operational reliability. The fleet expansion is expected to support 3% traffic growth this year and long-term growth towards 300 million passengers annually by FY2034.
The airline will operate over 2,600 routes this summer, including 160 new additions. O’Leary expects constrained short-haul capacity in Europe until at least 2030, favouring Ryanair’s expansion.
Despite limited visibility into the second half of the year, Ryanair remains cautiously optimistic about recovering most of last year’s fare declines. However, external risks—such as geopolitical tensions and ongoing European air traffic control challenges—could impact the full-year result.