Ryanair Holdings Plc · EURONEXT:RYA

Ryanair — Q1 FY27 Earnings Presentation

16 slides from Ryanair's earnings presentation, July 2026

  1. Slide 1: Q1 FY27 Results – Jul. 26

    Q1 FY27 Results – Jul. 26

  2. Slide 2: Europe's Lowest Cost Airline

    Eur ope’s Lowest Cost Air line  Lowest fare/cost EU airline – gap widens  No. 1 Traffic: 216m (+4%)  No. 1 OTP – Record CSAT: 91%  No. 1 Global Large Cap. ESG airline – (S’alytics)  300 MAX-10s – Decade of Growth from 2027  Fin. strength + lowest cost = L.T. winner 2 2

  3. Slide 3: Europe's No. 1 Cover & Choice

    E u r o p e ’s N o. 1 C ove r & C h o i c e  95 bases  222 apts.  35 countries  647 aircraft  216m pax FY27  300 new B737s on order  300m pax FY34 3 3

  4. Slide 4: Europe's Lowest Costs – Gap Widens

    Eur ope’s Lowest Costs – Gap W idens € per pax RYA WIZ (ii) EZJ LUV IAG LUF AFKLM Staff/Effic. 9 9 15 86 54 48 96 Airport & Hand. 8 16 27 14 50 32 42 Route Charges 6 6 7 - 6 6 6 Own’ship & Maint. 9 24 15 18 45 59 64 S/M & Other 4 7 26 29 18 31 41 (i) Net Fin. (Inc.) / Exp. - 3 - - 5 2 4 Unit cost ex

  5. Slide 5: Q1 FY27 Results

    Q1 FY27 Results Q1 FY26 Q1 FY27 Guests 57.9m 61.3m +6% Load Factor 94% 94% - Ave. Fare €51 €48 -6% Total Rev. €4.34bn €4.38bn +1% Total Costs €3.42bn €3.81bn +11% PAT €820m €538m -34% 5 5

  6. Slide 6: Fortress Balance Sheet

    Fo r t r e s s B a l a n c e S h e e t €’bn Mar. 26 Jun. 26 BBB+ (Fitch and S&P) Assets 16.1 15.4 Unencum. B737 fleet (620x) Cash 3.6 2.8 Net Cash: €2.7bn Total 19.7 18.2 Accruals 8.1 8.5 Debt 1.5 0.2 Last bond paid May 2026 S/H Funds 10.1 9.5 Total 19.7 18.2 6 6

  7. Slide 7: Current Developments

    Cur r ent Developments  Traffic +4% to 216m (H1 +6% & H2 +2%)  S.26 volume strong – Q2 fares modestly down (y-o-y)  Scarce cap. switch. to States / Apts. who cut taxes / fees to grow  FY27 jet-fuel 80% hedged @ $67bbl. FY28 now 15% hedged @ $85bbl  Final €1.2bn bond repaid in May – Group now de

  8. Slide 8: Boeing Update

    Boeing Update  647 fleet (incl. 210 G’Changers) @ 30 Jun.  Boeing expect MAX-10 cert. late S.26  Boeing confirm 15 MAX-10s on time in Spring 27  300 super fuel-efficient MAX-10s by Mar. 2034 = 300m pax p.a.  20% more seats & 20% less fuel 8 8

  9. Slide 9: MAX-10 Order = Decade Of Growth

    MAX-10 Or der = Decade Of Growth Fleet Pax p.a. (m) Pax Grth Cum. Grth (i) FY25 613 200 +9% +9% FY26 647 208 +4% +13% FY27 655 216 +4% +17% FY28 673 223 +3% +21% 300 MAX-10 Order FY29 690 230 +3% +25% FY30 700 245 +7% +33% FY31 730 260 +6% +41% FY32 760 275 +6% +49% FY33 790 290 +5% +58% FY34 800 30

  10. Slide 10: Outlook

    Outlook  FY27 traffic +4% to 216m (H1 +6% & H2 +2%)  80% jet-fuel hedge ($67bbl) helps offset enviro. taxes (+€300m), crew pay & maint.  FY27 total unit costs hinge on price of 20% unhedged jet-fuel  S.26 volumes strong but booking window closer-in  Q2 pricing trending modestly down (y-o-y)  H

  11. Slide 11: Appendices

    Appendices Appendices 11

  12. Slide 12: Appendix: Industry Leading Hedging

    Appendix: Industr y Leading Hedging Jet-fuel Swap Opex Carbon (i) (ii) (iii) (per mt. tn.) (€/$) (€) H1 FY27 80% ($670) 90% ($1.15) H2 FY27 80% ($666) 86% ($1.16) FY27 80% ($668) 88% ($1.15) 100% (€72) H1 FY28 15% ($857) 30% ($1.20) H2 FY28 15% ($836) - FY28 15% ($848) 18% ($1.20) - MAX-10 Capex: 60

  13. Slide 13: Appendix: Fleet FY27 – FY34 (300 MAX-10 order)

    Appendix: Fleet FY27 – FY34 (300 MAX-10 order) 790 800 800 Yr. end Fleet 760 300 x MAX-10s 730 700 690 MORE SEATS 673 655 LESS FUEL 8 28 68 122 169 218 268 300 LOWER COSTS 26 24 19 600 1 ADDIT. CAPAC. FOR AIRPORTS 210 210 210 TO GROW 210 210 210 210 LOWER APT. & 400 210 HAND.COSTS 411 411 393 LOWER

  14. Slide 14: Appendix: Best In Class ESG

    Appendix: Best In Class ESG Ratings: Record CSAT rating: - Commitments: Member of: 14 14

  15. Slide 15: Appendix: EU's Most Environmentally Efficient Large Airline

    A ppendix: EU’s Most Envir o. Ef ficient Lar ge Air line Emissions CO2 per Traffic (m) (m tn.) pax/km 1 LUFT 29.4 135 85 2 IAG 27.5 122 78 3 AFKLM 26.1 103 67 4 RYA 17.0 208 63 5 EZJ 8.7 93 65 Source: latest FY Results. 15

  16. Slide 16: Disclaimer

    Disclaimer Certain of the information included in this release is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially and that could impact the price of Ryanair's securities. Forward looking statements are based on management's bel

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