Q3 2026 Ryanair Holdings PLC Earnings Call Transcript
Key Points
- Ryanair Holdings PLC (RYAAY) reported a Q3 profit after tax of EUR115 million, despite the absence of supplier compensation that benefited the prior year.
- Traffic increased by 6% to 47.5 million passengers, with average fares rising from EUR43 to EUR44.
- The company has successfully hedged 80% of its fuel for FY 2027 at $67 a barrel, expected to save approximately $500 million on its oil bill.
- Ryanair Holdings PLC (RYAAY) raised its full-year traffic guidance from 207 million to 208 million due to strong demand over the Christmas period.
- The company maintains a strong balance sheet, with plans to pay down a EUR1.2 billion bond maturing in May using its own cash resources.
- Q3 profit after tax decreased from EUR149 million in the prior year to EUR115 million, primarily due to the absence of supplier compensation.
- The Italian Competition Authority imposed a EUR256 million fine on Ryanair Holdings PLC (RYAAY), which the company plans to appeal.
- Operating costs rose by 6% to EUR3.11 billion, with unit costs flat on a per passenger basis.
- The company faces potential challenges from geopolitical uncertainties, including conflicts in Ukraine and the Middle East.
- Ryanair Holdings PLC (RYAAY) anticipates potential localized industrial action due to ongoing labor negotiations, which could impact operations.
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Good morning, ladies and gentlemen. You're all welcome to the Ryanair Q3 results call. I'm joined by all the members of the senior management team here in Dublin.
Eddie Wilson and Jason are in Brussels today. So they're caring from Brussels, and Neil Sorahan is in London but they're all on the call. You'll have seen earlier this morning, so we released our Q3 results. Q3 profit after tax of EUR115 million pre-exceptional compared to a strong prior year Q3, prior year Q3 of EUR149 million. The main difference is the absence of any supplier compensation in the current third quarter.
We got some compensation from Boeing on the aircraft delivery delays last year. The underlying business, however, is performing strongly. Traffic is up 6% to 47.5 million passengers. Average fares were up EUR1 from EUR43 to EUR44 over the quarter. Strong cost control continues with unit costs flat prior, obviously, the exceptional charge.
206 gamechangers were in the fleet at the end of December
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