Ryanair reported a Q3 FY26 profit after tax of €115 million (pre-exceptional), down 22% year-on-year, despite strong demand and higher fares. Passenger traffic rose 6% to 47.5 million, with average fares up 4% and total revenue increasing 9% to €3.21 billion. Unit costs remained flat, reflecting continued cost discipline.
Results were impacted by an €85 million exceptional provision related to an Italian competition fine, which Ryanair strongly disputes and expects to overturn on appeal. The airline maintains a strong balance sheet with €1 billion net cash, ongoing share buybacks, and fuel hedging, providing cost visibility through FY27.
Ryanair reaffirmed its growth strategy, supported by its expanding Boeing 737-8200 “Gamechanger” fleet, new bases and routes for summer 2026, and confidence in achieving long-term growth to 300 million passengers annually by FY34, while maintaining its position as Europe’s lowest-cost and most environmentally efficient airline.