Ryanair cuts its passenger target due to Boeing delivery delays
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Ryanair reported a significant increase in its third-quarter profits, which ended on December 31. However, the Irish airline had to cut its passenger growth target again for the second time in three months, citing delays in the delivery of new Boeing aircraft.
Ryanair recorded a net profit of €149 million in the third quarter, compared to €15 million in the same period last year. Passenger traffic increased by 9%, reaching 45 million travelers, driven by strong demand during Christmas and New Year.
Despite the positive quarterly results, cumulative profit for the first nine months was €1.94 billion, 12% lower than the previous year due to generally lower fares.
Boeing aircraft delays and target cuts
Ryanair reduced its traffic target for fiscal year 2026, which begins in April, to 206 million passengers, down from the previous forecast of 210 million published in November and the initially estimated 215 million. The main cause is delays in Boeing aircraft deliveries, worsened by a workers' strike in 2024 and ongoing issues at the manufacturer.
Currently, Ryanair operates exclusively with Boeing 737 models and is the largest European customer of the U.S. company, with a total order of 210 B737-8200 aircraft. Of these, 172 are already in the fleet, but the remaining 29 aircraft still face delays.
Neil Sorohan, Ryanair's Chief Financial Officer, explained that the airline would need nine additional aircraft before summer to meet its original target, which is now no longer possible. However, he expressed confidence that Boeing is making progress in deliveries, noting that recent visits to the company’s facilities in Seattle have shown notable improvements.
Ryanair expects to reach the 215 million passenger target by the summer of 2026, one year later than planned. For the current fiscal year, the company expects traffic to reach approximately 200 million passengers, provided no further delivery delays occur.
The airline estimates an annual net profit of between €1.55 billion and €1.61 billion for the fiscal year ending in March, a decline from the nearly €2 billion achieved last year.
Sorohan also highlighted that at Dublin Airport, the temporary suspension of the controversial passenger cap, linked to a legal challenge by Ryanair, will only remain in effect until the end of summer. He warned that resolving this issue should be a priority for the new Government, as the uncertainty could affect long-term operations.
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