Ryanair first-half profit falls 15% to €2.15bn

Ryanair (NASDAQ:RYAAY) reported first-half FY27 profit after tax of €2.15 billion, down 15% from €2.54 billion a year earlier, as higher unhedged fuel costs and lower fares reduced earnings despite passenger growth.

The airline's revenue increased 3% to €10.08 billion, while passenger traffic grew 6% to 125.8 million, but average fares fell 4% and operating costs climbed 10% to €7.69 billion.

The company said 20% of its FY27 fuel requirements remained unhedged at prices around $130 per barrel, while it estimated that its FY28 fuel bill could increase by approximately €2 billion based on current forward prices.

Ryanair also declared an interim dividend of €0.273 per share, payable in February 2027, and announced an €800 million share buyback expected to begin that month.

Following the announcement, Ryanair's share price was unchanged at $29.57.

The airline continues to expand its network, with 126 additional routes and a new base in Rimini planned for summer 2027, alongside the expected delivery of 16 Boeing 737 MAX 10 aircraft.

Ryanair reduced its FY27 passenger target from 216 million to 214 million and said it expects traffic to exceed 220 million in FY28, while its longer-term company target is 300 million passengers annually by FY34.