Ryanair Holdings - Accelerating growth; now targeting 225m guests in FY2026

Davy Research
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Ryanair has accelerated its post-COVID growth, targeting 225m guests in FY2026 compared to 200m previously and 149m pre-COVID. This is supported by 210 ‘B737 Gamechanger’ deliveries and opportunities opening up across Europe where competitors have scaled back; furthermore, it opened its new Aviation Training Centre this week. In our view, this demonstrates Ryanair’s strong growth capabilities, facilitated by its industry-leading cost base.