Ryanair reported a pre-exceptional Q3 profit after tax of EUR 115 million, driven by a 6% increase in passenger traffic to 47.5 million and a 4% rise in average fares. Revenue per passenger climbed 3%, while stringent cost control efforts kept unit costs flat quarter-on-quarter. Other income dipped slightly due to the absence of delivery delay compensation received in the prior year period.

Following robust early 2026 bookings and a 4% fare uplift in Q3, Ryanair raised its full-year average fare growth forecast. Management now expects average fares to increase by at least 3.5%, compared with previous guidance of 3%, supporting expectations for a circa 33% year-on-year jump in after-tax profit for fiscal 2026. This upgrade reflects sustained leisure demand and higher load factors across key European markets.

The group has recorded an EUR 85 million provision (approximately 33% of the alleged fine) for the Italian competition authority’s ruling issued on December 24. Ryanair’s legal team maintains the fine is baseless and expects a successful appeal later this year. CFO Neil Sorahan emphasized confidence in overturning the decision, noting no adjustment to operational cash flow forecasts despite the provision.

As of December 31, Ryanair’s fleet comprised 643 aircraft, including 206 next-generation Gamechanger jets, with a further four Gamechangers due for delivery in February. The airline has announced three new bases and 106 additional summer 2026 routes, now on sale. Fuel cost risk remains well managed, with 80% of FY 2027 requirements hedged at an average price of USD 67 per barrel, translating to an expected 10% reduction in fuel expenditure next year.