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

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 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.

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.

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 Holdings Plc lowered its passenger growth target for a second time in three months as Boeing Co. struggles to deliver aircraft following a debilitating strike by workers last 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.