Ryanair Holdings PLC (NAS:RYAAY)
$ 64.65 +0.48 (+0.75%) Market Cap: 33.58 Bil Enterprise Value: 31.22 Bil PE Ratio: 13.58 PB Ratio: 2.77 GF Score: 84/100

Half Year 2026 Ryanair Holdings PLC Earnings Call Transcript

Nov 3, 2025 / 10:00 AM GMT
Release Date Price: $65 (+4.03%)

Key Points

Positve
  • Ryanair Holdings PLC (RYAAY) reported a 20% increase in profits, reaching 1.72 billion euros, driven by strong fare recovery and controlled unit costs.
  • The company has successfully hedged 80% of its fuel needs for FY27 at just under $67 a barrel, resulting in significant cost savings.
  • Ryanair Holdings PLC (RYAAY) is on track to be debt-free by May 2026, with a fleet of 640 aircraft, enhancing its financial stability.
  • The company anticipates strong traffic growth, projecting to reach 215-216 million passengers in FY27, supported by improved Boeing deliveries.
  • Ryanair Holdings PLC (RYAAY) is benefiting from a constrained European capacity environment, which is expected to lead to modest fare increases.
Negative
  • Boeing delivery delays have impacted traffic growth, although improvements have been noted recently.
  • The company faces significant cost inflation in air traffic control and environmental taxes, despite overall cost control.
  • Ryanair Holdings PLC (RYAAY) is critical of Europe's competitiveness, citing high environmental taxes and inefficient air traffic control services.
  • The company is concerned about the impact of increasing APD in the UK, which could affect growth in that market.
  • Ryanair Holdings PLC (RYAAY) is facing challenges with labor agreements, with several contracts up for renewal in 2027, potentially impacting future costs.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RYA.I - Ryanair Holdings PLC
Half Year 2026 Ryanair Holdings PLC Earnings Call
Nov 03, 2025 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Thank you, Nadia. Good morning ladies and gentlemen. Welcome to the H1 con results conference call. I'm joined by the entire team here in London and, on other phone lines. We published the results this morning and Neil and myself have done a 30 minute Q&A on the website, so I would direct you to the Ryanair.com website for that while you're there, book a low fare. Right, quick couple of comments. One, as you see, I, I'd prefer to deal with Q2 because the H1 was distorted by the very ridiculously strong Q1 and the weak prior comp.

But if you look at Q2, so traffic is up 2% because of the Boeing delivery delays. They have improved in the last couple of months. We've now taken 23 of the 29 aircraft that they should have
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