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.

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

For the entirety of its fiscal 2025, which ends March 31, the airline now expects “almost 200 million passengers,” as long as there is no further bad news on delivery delays from Boeing. At its fiscal half-year results presentation Nov. 4, 2024, Ryanair said it was targeting between 198 million and 200 million.

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 Holdings plc (NASDAQ:RYAAY) stock is trading higher after it reported its third-quarter 2025 results. RYAAY reported revenue growth of 10% year-over-year to 2.96 billion euros ($3.158 billion,

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.

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