Ryanair said on Monday it has raised its forecast for average fare growth for the financial year ending March 31, driven by stronger booking trends in the early months of 2026. The Irish carrier, the largest in Europe by passenger numbers, said that fares in the first three months of 2026 were "trending ahead of prior year," leading it to upgrade its guidance.
In November the airline had guided for annual average fare growth of 7%. It now expects that full-year fares will exceed that +7% figure by 1 or 2 percentage points, based on the stronger start to the year. Ryanair noted that while the fourth quarter does not benefit from Easter timing, current fare trends still point to outperformance versus the prior year.
As a result of the improved fare outlook, the airline said it is "cautiously guiding" pre-exceptional after-tax profit in a range of 2.13 billion euros to 2.23 billion euros. That compares with 1.61 billion euros of after-tax profit in the previous year.
Ryanair also disclosed an exceptional charge tied to a 256 million euro fine imposed by the Italian competition authority in December. The airline said it is confident that the fine will be overturned on appeal.
The company provided the euro-dollar conversion rate included in its statement: $1 = 0.8429 euros.
This update reflects stronger-than-expected demand in the early part of the calendar year, which the carrier says has translated into higher average fares. Management has incorporated those trends into its full-year fare projection and profit guidance while flagging the exceptional charge as a separate matter subject to appeal.
The guidance range for pre-exceptional after-tax profit and the revised fare outlook are the central takeaways for investors and industry observers assessing Ryanair's near-term financial performance.