In the third quarter, Ryanair delivered a pre-exceptional after‐tax profit of €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 kept unit costs flat year-on-year. These results underscore the low‐cost carrier’s ability to balance growth with operational efficiency, despite an €85 million provision taken for a disputed regulatory fine in Italy.

Following the surge in ticket prices during Q3, Ryanair raised its full-year average fare growth forecast. Early bookings for 2026 show continued momentum, prompting management to predict a one-third increase in annual after-tax profit. The CFO highlighted that strong advance sales and targeted pricing strategies, including promotional campaigns that garnered significant media attention, are key contributors to the upgraded outlook.

Ryanair established a €85 million provision, equivalent to approximately 33% of the fine levied by Italy’s competition authority on Christmas Eve. Management and external legal advisors remain confident the penalty will be overturned on appeal, characterizing the ruling as without merit. The provision impact has been reflected in Q3 accounts, but the company expects a full reversal of this charge should the appellate process conclude in its favor.

As of December 31, Ryanair operated 643 aircraft, including 206 next-generation ‘Gamechanger’ jets, with four additional aircraft scheduled for delivery in February. The airline has committed to opening three new bases and launching 106 new routes for the summer 2026 schedule, all of which are already on sale. To mitigate volatility in fuel markets, Ryanair has hedged 80% of its 2027 fuel requirements at an average price of $67 per barrel, locking in a projected 10% reduction in fuel expense next fiscal year.