Strong Top-Line and Passenger Growth
Passengers up ~12% YoY; ASKs up ~11% YoY (11.1%); seats up 13.1% in the quarter; total revenue ~€1.3bn, +10% YoY.
Profitability and Cash Improvements
EBITDA up 12% with EBITDA margin preserved at 13.6% (flat YoY); quarter operating loss narrowed to €139m (42% better YoY); net loss improved to €239m (improvement of ~€100m YoY); cash/liquidity increased to €1.98bn (+€400m YoY) and cash-to-LTM-revenue ratio rose to 34% (+5pp).
Balance Sheet Actions
Repaid the €500m outstanding bond; renewed bond documentation and retained program optionality; management does not expect to raise debt in the near term.
Fleet & Strategic Milestones
Celebrated 250th aircraft delivery and 500 million cumulative passengers (achieved in 21 years); XLR program resized from 47 to 11 (6 delivered, 5 more expected ~8 months); plan to be effectively A321-converted within ~2 years.
Operational Recovery on GTF Issue
Grounded aircraft reduced to 33 vs 40 a year ago; company on track to uplift grounded aircraft by end of calendar 2027 under recovery plan.
Clear Guidance and Growth Outlook
Fiscal '26 outlook: ~10% capacity increase; guidance for fiscal '27: high growth H1 (summer ASK +24% / seat growth ~30%), moderated growth H2 toward medium-term 10-12% target; net profit guidance for fiscal '26 around breakeven (€-25m to +€25m).