Ryanair, Europe's largest low-cost carrier, reported a 34% decline in net profit for the first quarter of its fiscal year, citing higher fuel costs and lower average fares. The airline posted a profit of €360 million for the three months ending June 30, 2026, down from €545 million in the same period last year.
The Dublin-based airline said fuel costs rose by 12% year-on-year, while average fares fell by 6% due to increased competition and softer demand in some markets. Despite the profit drop, Ryanair's revenue increased by 8% to €3.8 billion, driven by a 10% rise in passenger numbers to 55 million.
CEO Michael O'Leary said the results were "broadly in line with expectations" and reiterated the company's full-year profit forecast of €1.8 billion to €2.0 billion. He added that Ryanair expects to carry 200 million passengers in the current fiscal year, up from 183 million last year.
The airline has been expanding its fleet and route network, with new bases in smaller European cities. However, O'Leary warned that further fuel price increases and potential disruptions from air traffic control strikes could impact future performance.
