Ryanair profits more than double on Easter timing and fare hikes

Budget airline Ryanair has revealed that quarterly profits more than doubled thanks to strong Easter demand and as fares surged by more than 20%.

The Irish carrier reported profits after tax of 820 million euros (£710.3m) for the three months to the end of June, up from 360 million euros (£311.8m) a year earlier.

Revenues jumped by 20% to 4.34 billion euros (£3.76bn), boosted by the timing of Easter but also as Ryanair saw fares rise – in particular better-than-expected fares for last-minute bookings.

The average fare rose 21% year-on-year to 51 euros (£44.18) in the quarter, it said.

The group is seeing fares rebound after it cut them by 7% in its previous financial year as under-pressure consumers reined in spending.

But it said passenger growth was still being held back by delays to new aircraft deliveries, up 4% to 55.5 million in its first quarter despite the Easter boost.

It expects a rise of “just 3%” to 206 million passengers over the full year in spite of strong summer travel demand.

The group has repeatedly slashed its annual passenger forecast, with the last revision in January, blaming aircraft delivery delays from Boeing.

Fares will also not rise by as much in the second quarter, it added.

Ryanair chief executive Michael O’Leary said: “We do, however, cautiously expect to recover almost all of last year’s 7% full-year fare decline, which should lead to reasonable net profit growth in full year 2025-26.

“The final 2025-26 outcome remains heavily exposed to adverse external developments, including the risk of tariff wars, macro-economic shocks, conflict escalation in the Middle East and Ukraine and European air traffic control strikes, mismanagement and short staffing.”