Ryanair
300m passengers a year by FY34, May 2023 to March 2034
Profitable growth to over 300m passengers p.a. by FY34
Ryanair carried 208.4 million passengers in FY26
In May 2023 Ryanair ordered up to 300 Boeing 737 MAX-10s, for delivery by March 2034, to grow from 168m passengers a year to 300m. Its results in 2025 and 2026 repeat the target.
| Year | Passengers | |
|---|---|---|
| FY23 | 168m | Flown |
| FY24 | 183.7m | Flown |
| FY25 | 200.2m | Flown |
| FY26 | 208.4m | Flown |
| FY27 | 216m | Expected |
| FY34 | 300m | Target |
Sources,,,
300 million passengers a year by FY34
300 aircraft on order
- 150 firm orders
- 150 options
- The first 15, due in spring 2027
Profit rose 40% in FY26, then fell 34% in the next quarter
FY26
- Passengers+4% 208.4m
- Average fare+10% 10% higher
- Profit after tax+40% €2.26bn before exceptional items
First quarter of FY27
- Passengers+6% 61.3m
- Average fare−6% 6% lower
- Profit after tax−34% €538m
One number, eleven years out, repeated in every report.
Ryanair’s results for FY25, FY26, and the first quarter of FY27 all repeat the target of 300m passengers a year by FY34. We recommend repeating a long-term target in every report, so nobody has to wonder whether it has quietly changed.
The target rests on something already bought.
The 150 firm orders and 150 options for MAX-10s are the aircraft Ryanair says will carry the growth. We recommend tying a growth target to the resources that will deliver it, and saying when they arrive: the first 15 are due in spring 2027.
Each year has its own figure.
Ryanair gives a traffic figure for each coming year: 206m for FY26, when it carried 208.4m, and 216m for FY27. We recommend breaking a long target into yearly figures, so each year can be judged on its own.
Sources
- 1. Ryanair Holdings plc (2023). Ryanair orders 300 Boeing 737-MAX-10 aircraft worth $40bn. Press release, 9 May 2023. corporate.ryanair.com
- 2. Ryanair Holdings plc (2025). Full year FY25 results. Form 6-K, 19 May 2025. sec.gov
- 3. Ryanair Holdings plc (2026). Ryanair 2025-26 PAT rises 40% to €2.26bn (pre-except.). Results announcement, 18 May 2026. investor.ryanair.com
- 4. Ryanair Holdings plc (2026). Ryanair Q1 PAT falls 34% to €538m. Results announcement, 20 July 2026. investor.ryanair.com
Headwater is not connected with Ryanair Holdings plc. Ryanair is a trade mark of its owner, and Boeing and 737 MAX are trade marks of The Boeing Company. Updated 27 September 2026.