Budget airline Ryanair on Monday reported stronger-than-expected after-tax profit for the three months through to the end of December.

Ryanair said it expects to take delivery of nine Boeing 737 MAX aircraft ahead of its peak summer season, fewer than expected, and as a result will cut its forecast for passenger numbers in the 12 months to March 31, 2026, to 206 million from 210 million.

Ryanair has revised its passenger forecasts, citing delays in Boeing aircraft deliveries as the reason for postponing its goal of 210 million passengers to 2026

The budget airline reported an increase in earnings after passenger numbers and average fares rose in the third quarter of fiscal 2025, but Boeing delivery delays are expected to weigh on the company next year.

Ryanair reported better than expected profits for the final three months of 2024 on Monday and Chief Executive Michael O'Leary said he was "cautiously optimistic" about fares for the coming summer on constrained capacity in Europe.

The low-cost carrier detailed that its target of 200 million annual passengers remains intact in FY25. However, Boeing’s delivery schedule also affected its future plans, already forcing Ryanair to adjust its FY26 passenger outlook from 210 million to 206 million.

RYAAY stock up after reporting Q3 results with 10% revenue growth, strong balance sheet, and fleet expansion plans for 2025.

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The budget airline expects to fly fewer passengers than hoped in fiscal 2026, cutting its passenger growth target yet again, due to Boeing plane delivery delays.

Ryanair reported after-tax profit for the three months to the end of December ahead of analyst forecasts on Monday, but Europe's largest low-cost carrier again trimmed its forecast for passenger numbers on Boeing delivery delays.

Europe's largest low-cost airline anticipates attracting 206m customers in the 2026 financial year, equivalent to 3% annual growth.