Verified facts
Ryanair reported half-year profit after tax of €2.15bn, down from €2.54bn. Passenger numbers rose 6% to 125.8 million, while average fares fell 4%. Revenue increased 3% to €10.08bn and operating costs rose 10% to €7.69bn.
The airline said higher prices on its unhedged fuel exposure contributed to the pressure. Its figures describe the first half of its financial year, not calendar-year earnings or UK-only traffic.
Apolifina analysis
More passengers need not mean more profit: fares, fuel costs and other expenses can move in different directions. That distinction matters when comparing travel businesses.
For UK travellers, the fare comparison describes what the airline earned across its network. It is not a quote for a particular flight or a promise that future UK fares will fall.
Uncertainty and risk
Fuel prices, demand and future capacity remain uncertain. These are historical results, not a guaranteed future return. Airline shares can lose value; no personal investment recommendation is made.
Primary sources
Source released 2 November 2026. Published 2 November 2026.
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