Ryanair achieved a net income of €820m in the first quarter of its 2026 fiscal year, more than doubling from €360m last year. CEO Michael O'Leary criticized the government’s ongoing passenger cap at Dublin Airport and its lack of action despite previous promises. He alleged that infrastructure plans would fail in practice, describing them as "smoke and mirrors." The company reported a 4% increase in traffic and a 15% boost in unit revenue. Fuel hedging has lessened the impact of volatile energy prices, and additional growth is anticipated with upcoming aircraft deliveries.
Michael O'Leary criticized government inaction regarding the passenger cap at Dublin Airport, stating, "Here is infrastructure that is built and paid for that they won't allow us to use." He referred to the government's infrastructure plans as "smoke and mirrors" amid a €100bn investment announcement. O'Leary noted that the long-standing cap limiting passenger numbers to 32 million has not been addressed despite prior promises from coalition parties. He voiced concerns about the Minister for Transport Darragh O'Brien's lack of action, labeling it as "dither, delay and indecision".
Ryanair reported a significant increase in net income to €820m for the first quarter of the 2026 fiscal year, more than doubling from €360m a year prior. This surge showcases a recovery in fares and traffic growth, with a 4% increase in passenger numbers and a 15% rise in unit revenue per passenger. The overall unit costs increased by only 1%, aided by effective fuel hedging amidst volatile energy prices. Future growth is also bolstered by the delayed delivery of Boeing's 'Gamechanger' aircraft expected by year-end.
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