Can Ryanair Beat Inflation With a Single ‘Gamechanger’ Jet?
Ryanair has unveiled its financial results for the third quarter of the 2025/26 tax year. This period, spanning October to December 2025, revealed a mixed performance for the Irish budget airline. Central to their strategy is the Boeing 737 MAX 8-200, termed the ‘Gamechanger’ due to its efficiency and capacity.
Ryanair’s Fleet Expansion
As of the end of 2025, Ryanair’s fleet included 206 Boeing 737 MAX 8-200 aircraft. The airline has ordered four additional units, expected by late February 2026. This latest fleet is notably younger, averaging three years old as opposed to the overall fleet average of 15.5 years.
- Total Airplanes: 206 Boeing 737 MAX 8-200
- Average Age of New Fleet: 3 years
- Additional Seats: 197 (8 more than the previous model)
Production and Certification Challenges
Ryanair has 150 Boeing 737 MAX 10s on order. However, these have faced delivery delays due to ongoing certification issues. Michael O’Leary, Group CEO, commented on the impact of delivery delays on revenue streams.
Financial Performance in Q3 2025
The third quarter was favorable for passenger traffic, with Ryanair serving 47.5 million travelers. This was a 6% increase compared to 44.9 million passengers the previous year. Revenue increased by 9%, growing from €2.96 billion to €3.21 billion.
- Passenger Numbers: 47.5 million, up from 44.9 million
- Revenue: from €2.96 billion to €3.21 billion
- Average Fare: rose from €43 to €44
Profitability Amid Rising Costs
Despite the growth in passenger numbers and revenue, Ryanair faced challenges. The average fare increase of 4% slightly outpaced inflation, which peaked at 3.2% in Ireland in November 2025. The airline’s post-tax profit was down 80% year-on-year due to exceptional charges, which included an €85 million fine.
Ryanair’s strategy to combat inflation relies on the improved operating economics of the Boeing 737 MAX 8-200. This approach is vital as the company navigates rising costs and regulatory challenges.
Future Perspectives and Controversies
Amid its financial updates, Ryanair also engaged in a public spat between Michael O’Leary and tech entrepreneur Elon Musk regarding the potential installation of Starlink WiFi on its aircraft. Initially refusing Musk’s proposal, O’Leary later opened the possibility, hinting at flexibility as Ryanair weighs its options amid ongoing discussions.
As Ryanair continues to implement its ‘Gamechanger’ strategy through modern fleet management, it faces numerous hurdles but remains focused on maintaining profitability and service expansion.
