Ryanair Posts Record €2.3 Billion Profit as Revenue Drops 11%
Ryanair reported a record €2.3 billion after-tax profit for FY26, a 40% year-over-year increase, while carrying 208.4 million passengers as revenue fell 11% to €15.54 billion. The carrier hedged 80% of its summer fuel at $668 per metric ton but withheld guidance due to volatility that drove shares down 2.7%.
1. FY26 Financial Results
Ryanair posted a record €2.3 billion after-tax profit for the year to March, a 40% rise from the prior year, on revenue of €15.54 billion, down 11%. Passenger traffic increased 4% to 208.4 million, reflecting continued demand growth despite revenue pressure.
2. Fuel Hedging Strategy and Outlook
The carrier locked in hedges covering 80% of its summer fuel needs at $668 per metric ton, leaving 20% unhedged due to market volatility and withholding forward guidance. Management has drawn up contingency plans to maintain a full schedule through the summer and winter seasons.
3. Market Reaction and Competitive Position
Shares declined 2.7% on the first trading day after the results and have shed 27.5% year-to-date. Ryanair warned that sustained high fuel prices could drive smaller European competitors into collapse, potentially strengthening its market share.