[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  LongYield [@LongYield](/creator/twitter/LongYield) on x 4482 followers Created: 2025-07-21 23:52:31 UTC $RYAAY Ryanair Holdings plc Earnings Call Key Highlights: (1/2) 💶 Record Q1 Profit Driven by Strong Fare Recovery Ryanair reported Q1 FY2026 PAT of €820 million, more than double the €360 million posted in Q1 FY2025, due largely to favorable comps and strong Easter performance. Q1 benefited from the timing of a full Easter in April (vs. partial last year), the resolution of the OTA boycott, and stronger close-in bookings. Management emphasized that while headline profit growth appears large (+128%), over a two-year period, Q1 profits have grown 24%, suggesting a more normalized trajectory. Average fares increased XX% YoY, although this was described as "artificial" due to weak prior year comps and Easter timing. 🛫 Passenger Growth and Constrained Capacity Environment Q1 traffic grew X% YoY to XX million passengers, with revenue per passenger up 15%, aided by ancillary growth of 3%. Growth was capped by Boeing delivery delays; Ryanair took delivery of X Gamechangers, raising the fleet to XXX MAX aircraft. FY2026 full-year passenger guidance remains at XXX million (+3%), with Q2 traffic expected to grow ~2% YoY to just under XX million. Management reiterated industry-wide capacity remains constrained due to OEM delays, engine issues, and EU airline consolidation. 💰 Cost Discipline and Expanding Competitive Advantage Unit cost per passenger rose just X% YoY in Q1, with ex-fuel unit cost up 3%; management reiterated FY cost inflation guidance of 1%–3%. Strong fuel hedging helped offset higher ATC charges and rising environmental costs; Ryanair is XX% hedged for FY2026 at $76/barrel and XX% hedged for FY2027 at <$66/barrel. Spare engine purchases, in-house MRO plans, and ongoing cost discipline will widen the gap with high-cost competitors like Wizz and easyJet. Ryanair’s fleet is fully unencumbered, and the balance sheet ended Q1 with €2 billion in net cash, enabling repayment of €2.1 billion in bonds over the next XX months. 🛍️ Ancillary Revenue Growth Supported by Digital Optimization Ancillary revenue per passenger grew 3%, driven by enhancements in mobile app design, product presentation, and dynamic pricing optimization. Easter timing also positively impacted non-ticket revenues in Q1. Full-year guidance for ancillary growth remains unchanged at 1%–2% per passenger. Ryanair Labs continues to refine and scale its digital retailing strategy, focusing on high-margin add-ons like bags and priority boarding. 🚀 Aircraft Orders and Strategic Engine Investment Ryanair purchased XX spare LEAP-1B engines from CFM at a steep discount to enhance resilience as Gamechanger deliveries ramp. Total engine count now supports current needs and is positioned for long-term growth toward XXX million passengers by FY2034. The group anticipates on-time delivery of XX delayed Gamechangers ahead of summer 2026, and XX MAX 10s in spring 2027, per recent Boeing assurances. Ryanair continues to expect strong aircraft availability and pricing power due to ongoing delivery delays across Airbus and Boeing. 🌍 Geographic Trends and Market Positioning Ryanair is increasing capacity in low-cost supportive markets like Sweden, Hungary, regional Italy, and Poland, where governments are abolishing aviation taxes. In contrast, capacity is being withdrawn or reduced in Spain, Germany, and Dublin due to uncompetitive tax or regulatory policies. The airline signed a major growth deal in Warsaw Modlin to triple capacity over the next five years, reversing years of stagnation. Management criticized inaction in Germany and Ireland for constraining long-term growth at airports like Berlin and Dublin despite underutilized infrastructure.  XXX engagements  **Related Topics** [quarterly earnings](/topic/quarterly-earnings) [$ryaay](/topic/$ryaay) [Post Link](https://x.com/LongYield/status/1947444611602858444)
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LongYield @LongYield on x 4482 followers
Created: 2025-07-21 23:52:31 UTC
$RYAAY Ryanair Holdings plc Earnings Call Key Highlights: (1/2)
💶 Record Q1 Profit Driven by Strong Fare Recovery
Ryanair reported Q1 FY2026 PAT of €820 million, more than double the €360 million posted in Q1 FY2025, due largely to favorable comps and strong Easter performance.
Q1 benefited from the timing of a full Easter in April (vs. partial last year), the resolution of the OTA boycott, and stronger close-in bookings.
Management emphasized that while headline profit growth appears large (+128%), over a two-year period, Q1 profits have grown 24%, suggesting a more normalized trajectory.
Average fares increased XX% YoY, although this was described as "artificial" due to weak prior year comps and Easter timing.
🛫 Passenger Growth and Constrained Capacity Environment
Q1 traffic grew X% YoY to XX million passengers, with revenue per passenger up 15%, aided by ancillary growth of 3%.
Growth was capped by Boeing delivery delays; Ryanair took delivery of X Gamechangers, raising the fleet to XXX MAX aircraft.
FY2026 full-year passenger guidance remains at XXX million (+3%), with Q2 traffic expected to grow ~2% YoY to just under XX million.
Management reiterated industry-wide capacity remains constrained due to OEM delays, engine issues, and EU airline consolidation.
💰 Cost Discipline and Expanding Competitive Advantage
Unit cost per passenger rose just X% YoY in Q1, with ex-fuel unit cost up 3%; management reiterated FY cost inflation guidance of 1%–3%.
Strong fuel hedging helped offset higher ATC charges and rising environmental costs; Ryanair is XX% hedged for FY2026 at $76/barrel and XX% hedged for FY2027 at <$66/barrel.
Spare engine purchases, in-house MRO plans, and ongoing cost discipline will widen the gap with high-cost competitors like Wizz and easyJet.
Ryanair’s fleet is fully unencumbered, and the balance sheet ended Q1 with €2 billion in net cash, enabling repayment of €2.1 billion in bonds over the next XX months.
🛍️ Ancillary Revenue Growth Supported by Digital Optimization
Ancillary revenue per passenger grew 3%, driven by enhancements in mobile app design, product presentation, and dynamic pricing optimization.
Easter timing also positively impacted non-ticket revenues in Q1.
Full-year guidance for ancillary growth remains unchanged at 1%–2% per passenger.
Ryanair Labs continues to refine and scale its digital retailing strategy, focusing on high-margin add-ons like bags and priority boarding.
🚀 Aircraft Orders and Strategic Engine Investment
Ryanair purchased XX spare LEAP-1B engines from CFM at a steep discount to enhance resilience as Gamechanger deliveries ramp.
Total engine count now supports current needs and is positioned for long-term growth toward XXX million passengers by FY2034.
The group anticipates on-time delivery of XX delayed Gamechangers ahead of summer 2026, and XX MAX 10s in spring 2027, per recent Boeing assurances.
Ryanair continues to expect strong aircraft availability and pricing power due to ongoing delivery delays across Airbus and Boeing.
🌍 Geographic Trends and Market Positioning
Ryanair is increasing capacity in low-cost supportive markets like Sweden, Hungary, regional Italy, and Poland, where governments are abolishing aviation taxes.
In contrast, capacity is being withdrawn or reduced in Spain, Germany, and Dublin due to uncompetitive tax or regulatory policies.
The airline signed a major growth deal in Warsaw Modlin to triple capacity over the next five years, reversing years of stagnation.
Management criticized inaction in Germany and Ireland for constraining long-term growth at airports like Berlin and Dublin despite underutilized infrastructure.
XXX engagements
Related Topics quarterly earnings $ryaay