Ryanair has trimmed its passenger growth target for the year ending March 2026 from 215 million to 210 million due to Boeing delivery delays. Despite a reported after-tax profit of 1.79 billion euros, average fares dropped by 10% this year.
Ryanair, Europe’s largest low-cost airline, has adjusted its passenger growth target for the coming year from 215 million to 210 million due to delays in Boeing deliveries. The airline’s shares fell 3.1% to 17.47 euros after reporting an after-tax profit of 1.79 billion euros ($1.95 billion) for the six months ending in September, marking an 18% decline from last year and a 10% drop in average fares.
Group CEO Michael O'Leary noted that fares in the current third quarter are expected to be "modestly lower" than last year, with strong demand and forward bookings. CFO Neil Sorahan projected average fare reductions for the quarter to be under 5%. He attributed the decline in ticket prices to high interest rates and online travel agents stopping Ryanair flight sales due to legal pressures, although these issues are largely resolved.
Sorahan expressed hope that limited market capacity and lower interest rates would create a more favorable ticket pricing environment next year.
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