Business live: Ryanair first-quarter profits more than double
Europe's largest low-cost carrier reported a net profit of €820 million for its first quarter, up from €360 million in the same period last year when Easter was in March. Analysts had expected profits of €716 million.
Average fares rose 21 per cent from the same quarter last year, the company said.
Michael O'Leary, chief executive, said: 'We . . . cautiously expect to recover almost all of last year's 7% full-year fare decline, which should lead to reasonable net profit growth in FY26.'
Ryanair shares closed at €23.12 on Friday, down 7.5 per cent from a high of €24.98 on July 8.
Japan's ruling coalition lost control of the upper house in an election on Sunday, further weakening prime minister Shigeru Ishiba's grip on power.
Japan's prime minister, Shigeru Ishiba, is under intense pressure to resign after his ruling Liberal Democratic Party (LDP) lost control of the upper house of the Diet, in an election on Sunday that saw a dramatic surge by a far right anti-foreigner party.
Markets in Japan were closed for a holiday on Monday, but the yen strengthened slightly against the dollar, while Nikkei futures rose slightly as the election results appeared to be already priced in.
Japanese government bonds fell last week, sending yields on 30-year debt to an all-time high, while the yen slid to multi-month lows against the dollar and the euro.
Ishiba pledged to remain party leader as the country tries to get a tariff deal with. President Trump before the August 1 deadline.
The election saw a surge in support for a far right anti-foreigner party, Sanseito. It seeks to restrict the rights of foreigners under the slogan 'Japanese First' and second in the number of seats allocated by proportional representation, tying with the two main opposition parties.
• Read in full: Japan's PM under pressure after losing upper house majority
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