RYANAIR HOLDINGS PLC (RYAAY) Form 6-K — Nov 2, 2026
Ryanair reported H1 FY27 profit after tax of €2.15bn, down 15% from €2.54bn a year earlier, as the price of its 20% unhedged jet fuel roughly doubled to c.$130/bbl and average fares fell 4% amid Middle East conflict-driven booking hesitancy. Traffic still grew 6% to 125.8m passengers and revenue rose 3% to €10.08bn, but operating costs climbed 10%, pushing unit costs up 5%. Q2 PAT fell 6% to €1.61bn. Management cut the FY27 traffic target from 216m to 214m to limit unhedged fuel exposure, and warned the FY28 fuel bill could rise c.€2bn as cheap hedges roll off.
Key figures
- Eps
- 2.0664
- Revenue
- 10082000000
- Guidance
- FY27 traffic cut from 216m to 214m pax; too early for FY27 PAT guidance; Q3 fares trending modestly ahead but booking window closer-in; FY28 fuel bill expected to rise c.€2bn
- Net Income
- 2147600000
- Total Debt
- 438400000
- Revenue Yoy
- +3%
- Cash Position
- 2600000000
- H1 pat
- €2.15bn (-15% YoY)
- Q2 pat
- €1.61bn (-6%)
- H1 traffic
- 125.8m pax (+6%)
- Unit costs
- +5%
- H1 avg fare
- €55.70 (-4%)
- New buyback
- €800m starting Feb 2027
- Fy27 fuel hedge
- 80% hedged at c.$67/bbl ($668/tonne)
- Fy28 fuel hedge
- 25% at c.$95/bbl ($954/tonne)
- Interim dividend
- €0.273/share
AI analysis
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