Ryanair grows first-half traffic 6% and shifts capacity towards countries cutting aviation taxes

Ryanair carried 125.8 million passengers in the first half of its financial year, 6% more than a year earlier, with a load factor of 95%, the airline reported on 2 November 2026. Average fares fell 4%, and profit after tax dropped 15% as the price of the 20% of its jet fuel that is unhedged roughly doubled.

The airline has trimmed its FY27 traffic target from 216 million to 214 million passengers and expects winter traffic, from November to March, to be broadly flat year on year. It plans to carry more than 220 million passengers next year, with 80% of its FY27 fuel already hedged.

Ryanair says it is allocating capacity to Albania, Italy, Morocco, Slovakia and Sweden, which are cutting aviation taxes or fees, and moving flights and traffic away from Austria, Germany and regional Spain, citing high taxes or rising costs. It has 126 additional routes and one new base, Rimini, on sale for summer 2027. Chief executive Michael O'Leary welcomed the FAA's certification of the Boeing 737 MAX-10, which Ryanair expects EASA to certify before the end of the year; the first 16 MAX-10 aircraft are due in spring 2027.

The release does not list which routes are being reduced in the markets losing capacity. Passengers flying from airports in those countries should check their bookings and the schedule for their airport directly with Ryanair.