Ryanair records 22.2 mn traffic in August 2026; reduces winter capacity to protect margins
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The airline has trimmed its FY27 overall traffic target from 216 million to 214 million passengers. Traffic from November to March is expected to remain broadly flat year-on-year.
Ryanair reported 22.2 million passengers in August 2026, up from 21 million in the same period last year. The airline operated over 120,500 flights during the month, though more than 400 flights were cancelled due to eruptions at Mount Etna.
The carrier recorded summer traffic growth (April to October) of over 5%, rising from 138 million to 145 million passengers in S26, despite Q2 fares, guided in July, trending modestly down year-on-year. With 80% of its FY27 jet fuel hedged at approximately USD 67 per barrel, the group remains well-positioned for another profitable year, albeit below FY26’s record profit after tax (PAT). It remains too early to provide specific PAT guidance.
In light of elevated spot oil prices, with jet fuel currently trading around USD 140 per barrel, Ryanair is strategically reducing its exposure during the traditionally loss-making winter schedule (November to March). Consequently, the airline has trimmed its FY27 overall traffic target from 216 million to 214 million passengers. Traffic from November to March is expected to remain broadly flat year-on-year.
Subject to pricing and market demand, the airline expects this one-off capacity reduction to narrow its W26 losses by EUR 70 million to EUR 100 million. Should high jet fuel prices persist into S27, Ryanair anticipates that European short-haul airfares will rise materially, as less hedged competitors struggle to maintain capacity or maintain solvency through the winter season.
