[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 4476 followers Created: 2025-07-21 23:52:41 UTC $RYAAY Ryanair Holdings plc Earnings Call Key Highlights: (2/2) 📉 Q2 and Full-Year Outlook: Cautious Optimism Q2 fare recovery is expected to be closer to +7%, recapturing most of the X% YoY decline seen in Q2 FY2025, a more realistic barometer of underlying trends. Load factors and advance bookings are running ~1% ahead of last year, but management stressed fragility of close-in pricing. Only X% of H2 seats are currently sold, and prior-year Boeing compensation won’t recur, adding pressure to H2 profitability. Despite these caveats, Ryanair expects to post “reasonable net profit growth” for FY2026 assuming no major external disruptions. 🌐 Regulatory and Legal Environment Updates Ryanair achieved a favorable court decision in Spain suspending enforcement of a large fine related to baggage policy. Brussels is discussing setting a minimum cabin bag size, which could favor Ryanair's current policy framework. Management remains frustrated with the lack of progress on protecting overflights during ATC strikes; French ATC disruptions continue to impose material costs. Political and regulatory stagnation, particularly from the EU Commission, is seen as a drag on European aviation competitiveness. 🇺🇸 Trade Tariff and Boeing Risk Mitigation Ryanair is monitoring potential U.S.-EU tariffs on aircraft but believes commercial aircraft will be exempt or impacts will be short-lived. Boeing contractually bears tariff costs; Ryanair may delay deliveries or route them via Ryanair UK to avoid tariff exposure. Management remains encouraged by Boeing’s production improvements, quality upgrades, and leadership under Stephanie Pope. Ryanair expects to receive all XX remaining Gamechangers early, even before summer 2026, enhancing planning certainty. 📊 Capital Allocation and Shareholder Returns Ryanair reiterated its commitment to returning excess cash to shareholders through share buybacks and dividends. A €750M buyback program is ongoing, with ~€60M completed in Q1; no plans to accelerate it in light of share price appreciation. A €200M final dividend is planned for September, subject to AGM approval. Management prefers to maintain a conservative balance sheet, targeting €3B–€4B in net cash over the next few years to weather cycles and pursue opportunistic investments. 🧳 Cabin Bag Policy Clarity and Competitive Positioning Ongoing EU debates on baggage rules unlikely to change Ryanair’s policy; the airline allows a free under-seat bag and charges for larger carry-ons via priority boarding. Management emphasized passenger preference for current system due to speed of boarding and flight punctuality. Ryanair is actively engaging with Brussels to ensure future regulation supports low-fare efficiency models and fair competition. Internal legal counsel reiterated prior EU Court of Justice precedent supports Ryanair’s approach to ancillary revenue monetization. 🏗️ MRO and CapEx Outlook FY2026 CapEx is forecasted at €2.2B, including the LEAP engine purchase; some upward revision possible if tooling for in-house engine maintenance is front-loaded. FY2027 CapEx expected to dip below €2B before increasing to €2.5B–€3B in FY2028 as MAX XX deliveries ramp and PDP payments resume. Management is prioritizing long-term cost control via vertical integration, including opening internal engine shops by year-end. Ryanair’s ability to fund CapEx from internal resources without debt will further widen the structural advantage over peers reliant on expensive financing. 🧭 Long-Term Strategic Confidence Ryanair reiterated its goal of reaching XXX million passengers by FY2034 through disciplined cost control, modest pricing power, and fleet expansion. Capacity constraints across Europe are expected to persist through 2030, enhancing Ryanair’s pricing leverage and competitive moat. The company continues to outpace rivals on unit economics, fuel efficiency, and digital execution. Leadership remains focused on controlling what it can—costs, execution, fleet reliability—while navigating external volatility with resilience. XXX engagements  **Related Topics** [quarterly earnings](/topic/quarterly-earnings) [$ryaay](/topic/$ryaay) [Post Link](https://x.com/LongYield/status/1947444651935297947)
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LongYield @LongYield on x 4476 followers
Created: 2025-07-21 23:52:41 UTC
$RYAAY Ryanair Holdings plc Earnings Call Key Highlights: (2/2)
📉 Q2 and Full-Year Outlook: Cautious Optimism
Q2 fare recovery is expected to be closer to +7%, recapturing most of the X% YoY decline seen in Q2 FY2025, a more realistic barometer of underlying trends.
Load factors and advance bookings are running ~1% ahead of last year, but management stressed fragility of close-in pricing.
Only X% of H2 seats are currently sold, and prior-year Boeing compensation won’t recur, adding pressure to H2 profitability.
Despite these caveats, Ryanair expects to post “reasonable net profit growth” for FY2026 assuming no major external disruptions.
🌐 Regulatory and Legal Environment Updates
Ryanair achieved a favorable court decision in Spain suspending enforcement of a large fine related to baggage policy.
Brussels is discussing setting a minimum cabin bag size, which could favor Ryanair's current policy framework.
Management remains frustrated with the lack of progress on protecting overflights during ATC strikes; French ATC disruptions continue to impose material costs.
Political and regulatory stagnation, particularly from the EU Commission, is seen as a drag on European aviation competitiveness.
🇺🇸 Trade Tariff and Boeing Risk Mitigation
Ryanair is monitoring potential U.S.-EU tariffs on aircraft but believes commercial aircraft will be exempt or impacts will be short-lived.
Boeing contractually bears tariff costs; Ryanair may delay deliveries or route them via Ryanair UK to avoid tariff exposure.
Management remains encouraged by Boeing’s production improvements, quality upgrades, and leadership under Stephanie Pope.
Ryanair expects to receive all XX remaining Gamechangers early, even before summer 2026, enhancing planning certainty.
📊 Capital Allocation and Shareholder Returns
Ryanair reiterated its commitment to returning excess cash to shareholders through share buybacks and dividends.
A €750M buyback program is ongoing, with ~€60M completed in Q1; no plans to accelerate it in light of share price appreciation.
A €200M final dividend is planned for September, subject to AGM approval.
Management prefers to maintain a conservative balance sheet, targeting €3B–€4B in net cash over the next few years to weather cycles and pursue opportunistic investments.
🧳 Cabin Bag Policy Clarity and Competitive Positioning
Ongoing EU debates on baggage rules unlikely to change Ryanair’s policy; the airline allows a free under-seat bag and charges for larger carry-ons via priority boarding.
Management emphasized passenger preference for current system due to speed of boarding and flight punctuality.
Ryanair is actively engaging with Brussels to ensure future regulation supports low-fare efficiency models and fair competition.
Internal legal counsel reiterated prior EU Court of Justice precedent supports Ryanair’s approach to ancillary revenue monetization.
🏗️ MRO and CapEx Outlook
FY2026 CapEx is forecasted at €2.2B, including the LEAP engine purchase; some upward revision possible if tooling for in-house engine maintenance is front-loaded.
FY2027 CapEx expected to dip below €2B before increasing to €2.5B–€3B in FY2028 as MAX XX deliveries ramp and PDP payments resume.
Management is prioritizing long-term cost control via vertical integration, including opening internal engine shops by year-end.
Ryanair’s ability to fund CapEx from internal resources without debt will further widen the structural advantage over peers reliant on expensive financing.
🧭 Long-Term Strategic Confidence
Ryanair reiterated its goal of reaching XXX million passengers by FY2034 through disciplined cost control, modest pricing power, and fleet expansion.
Capacity constraints across Europe are expected to persist through 2030, enhancing Ryanair’s pricing leverage and competitive moat.
The company continues to outpace rivals on unit economics, fuel efficiency, and digital execution.
Leadership remains focused on controlling what it can—costs, execution, fleet reliability—while navigating external volatility with resilience.
XXX engagements
Related Topics quarterly earnings $ryaay