Ryanair: Revenue Quality and Cost Improvements Support Slight Increase in Fair Value Estimate

Ryanair is Europe’s largest low-cost airline, operating over 3,600 daily flights to more than 240 airports across 40 countries. Founded in 1984, the airline maintains a disciplined low-cost model focused on point-to-point service, high aircraft utilization, and tight cost control. Ancillary revenue from services like seat selection, priority boarding, and onboard sales accounted for 34% of total revenue in fiscal 2025.