Update: Ryanair Fiscal Q2 Earnings Decline, Revenue Increases; Issues Outlook for Fiscal Q3, Fiscal 2027

04:45 AM EST, 11/02/2026 (MT Newswires) -- (Updates with additional outlook and plans in the sixth and seventh paragraphs.) Ryanair (RYAAY) reported fiscal Q2 earnings Monday of 1.54 euros ($1.73) per diluted share, down from 1.61 euros a year earlier. Revenue for the quarter ended Sept. 30 was 5.70 billion euros, up from 5.48 billion euros a year earlier. Analysts expected 5.79 billion euros. For fiscal Q3, the company described "strong" demand, with fares trending ahead of the previous year. For fiscal 2027, the airline expects traffic to grow 3% to 214 million and said earnings are "well insulated" from current oil price volatility for the fiscal year ending March 31. For fiscal 2028, the company expects jet-fuel prices to remain high well into the calendar year 2027 "unless there is a swift resolution of the Middle East conflict." While the company projects that European short-haul airfares will "increase materially" in response to "much higher jet-fuel prices and competitor capacity reductions," it will likely to fail provide a full offset for an estimated 2 billion euro increase in the company fiscal 2028 fuel bill. The airline is reviewing all costs with a particular focus on airport fees, labor deals that may require pay freezes, decreasing crew ratios, and increased use of AI for back-office support, the company added.