Ryanair and easyJet’s contrasting recent news highlight differences in business models
There have been contrasting items of news concerning Europe's two largest low cost airlines in recent days. Ryanair has agreed a potentially very lucrative share option deal with group CEO Michael O'Leary, while easyJet has rejected three proposals from US private credit firm Castlelake.
As at 23-Jun-2026 Ryanair's share price is up by 14.5% over the past 12 months and up by 59.5% over the past five years. By contrast, easyJet's is up by 4.5% over the past 12 months (boosted by Castlelake's recent interest), but down by 44.5% over the past five years.
This report compares the development over the past two and a half decades of Ryanair and easyJet on passenger numbers, revenue per passenger and operating profit margin.
Ultimately, Ryanair's more cost-focused business model has given it the stronger track record.
EasyJet's recent news has been sparked by the underperformance of its shares, while Ryanair's news reflects its share price strength, both past and anticipated.
Become a CAPA Member to access Analysis Reports
Our Analysis Reports are only available to CAPA Members. CAPA Membership provides exclusive access to in-depth insights on the latest developments in the aviation and travel industry, developed by our team of dedicated analysts located in Europe, North America, Asia and Australia.
Each report offers a fresh perspective on the latest industry trends and is available online or via the CAPA mobile app, with customisable alerts to help you stay informed and identify new business opportunities.
CAPA Membership also provides access to our full suite of tools, including a tailored selection of more than 1,000 News Briefs every week and comprehensive data and analysis on thousands of companies around the world.