ANNUAL REPORT 2025 KEY STATS YEAR END MAR. 2025 200M GUESTS 300M IN FY34 26,000 HIGH SKILLED AVIATION PROFESSIONALS 613 AIRCRAFT CHOICE & COVERAGE OVER 3,500 FLIGHTS TO/FROM AIRPORTS 93 BASE AIRPORTS 228 (37 COUNTRIES) DAILY FLIGHTS UNRIVALED CUSTOMER SERVICES - CSAT 86% SAFETY RECORD 40 YEAR 100% OWNED B737 FLEET CREDIT RATING (STABLE) (FITCH AND S&P RATINGS) SUSTAINALYTICS NO.1GLOBAL LARGE CAP AIRLINE ESG RATING A A- UNENCUMBERED TABLE OF CONTENTS RYANAIR GROUP ANNUAL REPORT 2025 04 Financial Summary 05 C ...

Aircraft Orders and Fleet Management - Ryanair has ordered up to 300 new Boeing 737 MAX-10 aircraft, with 150 firm orders and 150 options, for delivery between 2027 and 2033[76] - The phased deliveries of the new aircraft are expected to create approximately 10,000 new high-paid jobs for pilots, cabin crew, and engineers[77] - Ryanair plans to dispose of approximately 150 older aircraft as part of its ongoing fleet management strategy[79] Growth Strategy and Passenger Targets - Ryanair's passenger target has been increased to approximately 300 million passengers per annum by FY34, following shareholder approval of the 2023 Boeing Contract[81] - Ryanair's growth strategy may strain existing management resources and operational systems, requiring additional skilled personnel and equipment[82] - New routes may initially result in lower load factors and higher promotional costs, potentially leading to initial losses[83] Financial Risks and Currency Exposure - The company is exposed to significant currency risks due to operations in the UK and costs denominated in U.S. dollars, which could adversely affect financial performance[75] - Approximately 22% of Ryanair's revenue in fiscal year 2025 came from operations in the UK, offset by about 15% of non-fuel costs related to UK operations[119] - The pound sterling has lost approximately 13% against the U.S. Dollar and 8% against the euro since the Brexit referendum in 2016, which could materially impact Ryanair's financial condition[121] Legal and Regulatory Challenges - Ryanair is facing ongoing legal proceedings regarding alleged State aid at various airports, with investigations expected to conclude in 2025[97] - The European Commission has ordered Ryanair to repay approximately €55 million of alleged State aid, with appeals ongoing[97] - The company has faced legal challenges related to its cash refund policies during the Covid-19 pandemic, but does not expect material adverse effects from these findings[115] Taxation and Compliance - Ryanair's effective tax rate is expected to increase due to new EU regulations mandating a minimum global corporate tax rate of 15%[108] - The company is subject to tax audits across multiple jurisdictions, which could lead to increased effective tax rates if unsuccessful in defending its position[111] Operational and Market Risks - Ryanair's ability to grow is dependent on access to suitable airports, and any increase in airport charges could adversely affect financial condition[85] - Labor relations and potential union demands could impact productivity and profitability, despite existing collective labor agreements[88] - The company relies on external service providers for maintenance and handling services, and any disruption in these contracts could materially affect operations[91] Economic and Geopolitical Factors - Ryanair's operations are sensitive to economic conditions, with potential adverse effects from recession, inflation, and austerity measures impacting passenger spending[127] - Geopolitical tensions, including the war in Ukraine and conflicts in the Middle East, have led to increased costs and could negatively impact demand for Ryanair's services[140] Environmental Regulations and Costs - The EU Emissions Trading System (ETS) compliance costs are significant, with allowances being phased out from 2024 to 2026, potentially increasing operational costs[135] - The proposed "Fit for 55" legislation includes a jet fuel tax on intra-EU flights, which could adversely affect Ryanair's financial results[133] - The introduction of Sustainable Aviation Fuel (SAF) blending mandates could impact costs, with targets set at 2% by 2025 and 6% by 2030 in the EU[136] Competitive Landscape - The European Commission has authorized approximately €40 billion in state aid to around 20 airlines as of March 31, 2025, which could negatively impact Ryanair's business due to competitive pricing pressures[162] - Ryanair's competitors may leverage state aid to offer below-cost prices, potentially harming the company's market position[162] Shareholder Dynamics and Financial Performance - Ryanair's ADS program currently accounts for over 40% of the company's issued share capital, the largest among EU airlines, impacting share ownership dynamics[171] - The Company has historically declared special dividends but future declarations are uncertain and contingent on financial performance[175] - The trading price of Ryanair Holdings' shares may experience wide fluctuations in response to quarterly operating results and broader market conditions[174] Safety and Public Perception - Safety-related incidents involving other low-fare airlines could adversely impact public perception and demand for Ryanair's services[151] - The company has faced regulatory scrutiny regarding safety modifications for its Boeing 737 aircraft, which could impact operational costs and schedules[159]

Group 1: Ryanair's Position on Tariffs - Ryanair's CEO Michael O'Leary indicated that if U.S. tariffs significantly impact the price of Boeing aircraft, the airline will consider alternative suppliers, including COMAC from China [1][3] - Ryanair is set to receive the last 29 of its 210 Boeing 737 MAX aircraft by March next year, with additional orders for 150 MAX10 aircraft and an option for another 150, with first deliveries expected in 2027 [3] - O'Leary warned that if tariffs lead to increased prices for Boeing aircraft, the airline may delay aircraft deliveries [3] Group 2: Response to U.S. Tariff Policy - O'Leary's comments were a response to U.S. Congressman Raja Krishnamoorthi's warning against purchasing Chinese-made aircraft, despite O'Leary's previous indication that he would consider them if prices were competitive [3] - O'Leary stated that Ryanair has not engaged in discussions with COMAC regarding aircraft purchases but would consider them if prices were 10% to 20% lower than those of Airbus, Boeing's main competitor [3] - Delta Airlines' CEO also noted that U.S. tariff policies have created significant operational challenges for American airlines, suggesting broader industry implications [4]

Group 1 - Grupo Aeroportuario del Centro Norte (OMAB) is outperforming its peers in the Transportation sector, with a year-to-date gain of approximately 29.6% compared to an average loss of 14% for Transportation stocks [4] - The Zacks Rank for OMAB is currently 2 (Buy), indicating a positive earnings outlook and strong analyst sentiment, with a 4.9% increase in the full-year earnings estimate over the past quarter [3][4] - The Transportation group ranks 16 within the Zacks Sector Rank, while the Transportation - Services industry, which includes OMAB, is ranked 157, having lost an average of 7.2% this year [2][6] Group 2 - Ryanair (RYAAY) is another Transportation stock that has outperformed the sector, with a year-to-date increase of 9.8% and a Zacks Rank of 1 (Strong Buy) [5] - The Transportation - Airline industry, which includes Ryanair, is ranked 170 and has experienced a decline of 26.1% since the beginning of the year [6] - Both Grupo Aeroportuario del Centro Norte and Ryanair are expected to continue their solid performance, making them noteworthy for investors interested in Transportation stocks [7]

Group 1 - US lawmakers have warned Ryanair against purchasing Chinese-made aircraft due to alleged security concerns, specifically regarding the C919 aircraft from COMAC [1][2] - Congressman Raja Krishnamoorthi, a leader in the US House "China Committee," expressed that US and European airlines should not consider buying planes from China [1] - Ryanair's CEO Michael O'Leary previously indicated interest in purchasing the C919 if the price is right, signaling a potential shift in sourcing aircraft beyond Boeing and Airbus [1][2] Group 2 - Ryanair, established in 1985, is the largest low-cost airline in Europe, operating over 1,600 routes and having 76 base hubs globally [2] - The US Department of Defense has previously placed COMAC and eight other Chinese companies on a blacklist for alleged ties to the Chinese military [2] - The Chinese Ministry of Commerce criticized the US actions as lacking a basis in rules and fairness, arguing that such measures disrupt international financial market order [2]

Allegiant Travel Company(ALGT) recently reported encouraging traffic numbers for March 2025.Scheduled traffic (measured in revenue passenger miles) rose 15.9% from the March 2024 levels. Capacity (measured in available seat miles) for scheduled service rose 20.7% year over year. Although traffic improved on a year-over-year basis, it failed to outpace capacity expansion. As a result, the load factor (percentage of seats filled by passengers) in March 2025 declined to 82.4% from 85.9% a year ago. Total depar ...

Ryanair (RYAAY) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Since a ch ...

Ryanair (RYAAY) shares rallied 10.7% in the last trading session to close at $43.89. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 15.5% loss over the past four weeks.The upside was owing to RYAAY's encouraging update on passenger volumes for fiscal 2025 (ended March 31). Ryanair reportedly carried 200.2 million passengers in its fiscal year ending March 2025, positioning itself as the first European airlin ...

Core Insights - Ryanair Holdings reported strong traffic numbers for March 2025, with 15 million passengers, a 10% year-over-year increase [1] - The airline's load factor for March 2025 was 93%, consistent with the previous year and higher than February and January 2025 [2] - Ryanair operated over 84,000 flights in March 2025, an increase from 71,360 flights in February 2025, despite earlier delays in Boeing deliveries [3] - The airline carried 200.2 million passengers in its fiscal year ending March 2025, becoming the first European airline to achieve this milestone [3] - Ryanair expects to reach nearly 200 million passengers in fiscal 2025, reflecting a 9% increase from the previous year [4] - The airline continues to benefit from robust traffic growth following the end of the pandemic [5] Company Performance - Ryanair's Zacks Rank is currently 2 (Buy), indicating positive market sentiment [6] - Other stocks in the transportation sector include SkyWest and Frontier Group, both of which have strong growth prospects [7] Other Stocks to Consider - SkyWest has a Zacks Rank 1 (Strong Buy) with an expected earnings growth rate of 16% for the current year and a 9.1% increase in shares over the past six months [8] - Frontier Group also holds a Zacks Rank of 1, with an expected earnings growth rate exceeding 300% for the current year and a 43% surge in shares over the past six months [9]

European carrier Ryanair Holdings (RYAAY) looks highly unattractive from a valuation standpoint. Considering the forward 12-month price-to-sales ratio (P/S-F12M), RYAAY has a forward 12-month P/S-F12M of 1.56X compared with 1.16X for the industry. Image Source: Zacks Investment Research RYAAY P/S Ratio (Forward 12 Months) Vs. Industry RYAAY has a Value Score of C. Despite facing multiple Boeing delivery delays, RYAAY's traffic grew 9% year over year during the first nine months of fiscal 2025. Given this ba ...