Ryanair records EUR2.3bn profit after tax for FY2026, comments on debt position and AGCM fine
Ryanair reported (18-May-2026) a profit after tax (PAT) of EUR2.3 billion for the 12 months ended 31-Mar-2026, compared to a FY2025 PAT of EUR1.6 billion. The LCC recorded passenger traffic of 208.4 million, an increase of 4% year-on-year despite delivery delays impacting 29 Boeing 737-8200 aircraft. The carrier reported gross cash of EUR3.6 billion after a capital expenditure spend of EUR1.9 billion, EUR1.2 billion debt repayments and more than EUR900 million in shareholder distributions. Liquidity is further boosted by Ryanair Group's revolving credit facility, which has EUR1 billion undrawn. Net cash was EUR2.1 billion, enabling the group to repay its final EUR1.2 billion bond during the week ending 31-May-2026 and leaving it "effectively debt free", as it aims to rebuild its gross cash back up to EUR4 billion. The LCC added that whilst is "lawyers are confident" that an Italian Competition Authority (AGCM) fine of EUR256 million levied in Dec-2025 "will be overturned on appeal", an exceptional provision of EUR85 million - approximately 33% of the fine - is included as an exceptional charge in the FY2026 results. [more - original PR]
Background ✨
Ryanair guided FY2026 PAT of EUR2.13 billion to EUR2.23 billion as Q3FY2026 fares trended ahead of the prior year, while it booked an EUR85 million exceptional charge linked to an Italian Competition Authority fine that it said would be overturned on appeal1. Earlier in FY2026, Ryanair Group CEO Michael O'Leary said heavily delayed Boeing deliveries constrained traffic growth expectations to around 206-208 million passengers, while unit cost inflation was expected to stay modest amid ATC and environmental cost pressures2 3.