2nd Nov 2026 08:09
(Alliance News) - Ryanair Holdings PLC on Monday said higher passenger traffic in the first half of the year was offset by lower fares per passenger, as the conflict in the Middle East led to consumer hesitancy and later bookings.
Profit after tax fell 15% to EUR2.15 billion in the first half of financial 2027 from EUR2.54 billion a year earlier. Basic earnings per share totalled EUR2.07, down from EUR2.39.
Operating revenue rose 2.6% to EUR10.08 billion from EUR9.82 billion, while operating costs increased 10% to EUR7.69 billion from EUR6.96 billion.
The Dublin-based budget airline carried 125.8 million passengers in the six months ended September 30, up 5.7% from 119.0 million a year earlier. Its load factor was 95%, unchanged from a year earlier.
However, revenue per passenger fell 3.0%, as the average fare declined 4.0% due to "consumer hesitancy and later bookings" resulting from the conflict in the Middle East.
Ryanair said 80% of its financial 2027 jet fuel requirements are hedged at around USD67.0 per barrel of crude oil. The company said this widened its cost advantage over other European competitors and helped insulate current-year earnings.
Ryanair said: "This year's earnings are well insulated from current oil price volatility, which also helped us to offset a further EUR300.0 million EU environmental tax increase, significant crew pay increases under new multi-year collective labour agreements and higher maintenance."
The airline said it had extended its 2028 hedging to cover 25% of its fuel requirements at around USD95.0 per barrel of crude oil.
"Financial 2027 traffic is expected to grow 3.0% to 214 million while our unit cost leadership continues to widen," the airline said.
The company said it had zero visibility on the fourth quarter and therefore could not provide post-tax profit guidance for financial 2027.
"The final financial 2027 PAT remains highly sensitive to adverse external developments, including conflict escalation in the Middle East and Ukraine, the price of our 20% unhedged jet fuel, macroeconomic shocks and the impact of European ATC disruptions (strikes and mismanagement)," Ryanair elaborated.
Ryanair opened up 1.4% at EUR23.21 in Dublin on Monday.
By Camilla Borri, Alliance News reporter
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