{"url_path":"/sec/ryaay/10-k/2026/item-8","section_key":"item-8","section_title":"Item 8 **Financial Information","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-06-22","source_url":"https://www.sec.gov/Archives/edgar/data/1038683/0001104659-26-076131-index.html","accession_number":"0001104659-26-076131","cik":"0001038683","ticker":"RYAAY","issuer_name":"RYANAIR HOLDINGS PLC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1038683/0001104659-26-076131-index.html","primary_entity_key":"0001038683","primary_entity_name":"RYANAIR HOLDINGS PLC"},"word_count":1295,"has_tables":true,"body_markdown":"**Item 8.**Financial Information\n\n​\n\nCONSOLIDATED FINANCIAL STATEMENTS\n\n​\n\nPlease refer to “Item 18. Financial Statements.”\n\n​\n\nOTHER FINANCIAL INFORMATION\n\n​\n\nLegal Proceedings\n\nThe Company is engaged in litigation arising in the ordinary course of its business. Although no assurance can be given as to the outcome of any current or pending litigation, management does not believe that any such litigation will, individually or in the aggregate, have a material adverse effect on the results of operations or financial condition of the Company, except as described below.\n\n​\n\n*EU State Aid-Related Proceedings.* Since 2002, the Company has faced allegations that some of its airport arrangements contain illegal State aid and orders to repay such aid. See “Item 3. Key Information—Risk Factors—Risks Related to the Company—The Company is subject to legal proceedings alleging State aid at certain airports” and “Notes forming part of the Consolidated Financial Statements – 22. Commitments and contingencies”.\n\n​\n\n*Legal Proceedings Against Internet Ticket Touts.*The Company is involved in a number of legal proceedings against internet ticket touts (“screenscraper websites”) in Germany and Ireland. Screenscraper websites gain unauthorized access to Ryanair’s website and booking system, extract flight and pricing information and display it on their own websites for sale to customers at prices which include intermediary mark-ups on top of Ryanair’s fares. Ryanair does not allow any such commercial use of its website and objects to the practice of screenscraping also on the basis of certain legal principles, such as contractual and database rights, copyright protection, etc. The Company’s objective is to prevent any unauthorized use of its website and to prevent consumer harm, and the resultant reputational damage to the Company, which may arise due to the failure by some operators of screenscraper websites to provide Ryanair with the passengers’ genuine contact and payment method details. The Company also believes that the selling of airline tickets by screenscraper websites is inherently anti-consumer as it inflates the cost of air travel. At the same time, Ryanair encourages genuine price comparison websites which allow consumers to compare prices of several airlines and then refer consumers to the airline website in order to perform the booking at the original fare. Ryanair offers licensed access to its flight and pricing information to such websites. Ryanair also permits GDSs to provide access to Ryanair’s fares to traditional bricks and mortar travel agencies and closed corporate travel booking platforms. In addition, Ryanair offers DDAs to OTAs. DDAs align with Ryanair’s exclusive online distribution model while allowing OTAs access to Ryanair’s price, flight, timetable and ancillary data for the purpose of display only on the OTA websites. The passenger can purchase accurately priced Ryanair flights and ancillary products and is brought to Ryanair.com to confirm their purchase. The Company has received favorable rulings in France, Germany, the Czech Republic, Ireland, Italy, the Netherlands and the U.S., and unfavorable rulings in Germany, the Czech Republic, Spain, France, Switzerland, the UK and Italy. Following a positive decision in Ireland in November 2023, whereby the Irish High Court found that Flightbox, a screenscraper, was bound by the Terms of Use of the Ryanair website and, as such, granted Ryanair a permanent injunction prohibiting Flightbox from breaching the binding Terms of Use of the Ryanair website, Ryanair was approached by a number of OTAs, including On The Beach (“OTB”), Lastminute and Kiwi which had been in litigation against Ryanair at that time. OTB, Lastminute and Kiwi each signed DDAs which enabled the cessation of all extant legal proceedings between the parties. However, pending the outcome of the legal proceedings that remain ongoing, or which may be initiated in the future, or of competition authority investigations (such as the one concluded in December 2025 by the Italian AGCM, outlined in “Item 4. Information on the Company—GOVERNMENT REGULATION—Regulation of competition.”), and if Ryanair were to be ultimately unsuccessful in any of them, the activities of screenscraper websites could lead to a reduction in the number of customers who book directly on Ryanair’s website and loss of ancillary\n\n69\n\n[Table of Contents](#TOC)\n\nrevenues which are an important source of profitability through the sale of car hire, hotels, travel insurance, etc. Also, some business may be lost to the Company once potential customers are presented by a screenscraper website with a Ryanair fare or a fee for an ancillary product such as checked baggage or priority boarding inflated by the screenscraper’s intermediary fee. See “Item 3. Key Information—Risk Factors—Risks Related to the Company—The Company Faces Risks Related to Unauthorized Use of Information from the Company’s Website” and “Item 3. Key Information—Risk Factors—Risks Related to the Company—The Company faces risks related to allegations of non-compliance with competition law”.\n\n​\n\n*Consumer Law Proceedings.* In November 2024, the Spanish Minister of Consumer Affairs imposed fines of approximately €107m on Ryanair and an order to discontinue Ryanair’s cabin baggage and other customer policies. See “Item 3. Key Information—Risk Factors—Risks Related to the Company—The Company is subject to increasingly strict sanctions for non-compliance with consumer protection laws” and “Notes forming part of the Consolidated Financial Statements – 22. Commitments and contingencies”.\n\n​\n\n*Data Protection Commission Inquiry.* In October 2024, the Irish Data Protection Commission launched an inquiry into Ryanair’s booking verification process. The inquiry relates to Ryanair’s requirement that passengers verify their details where bookings raise suspicions that passenger contact or payment details were withheld from Ryanair by an unauthorized intermediary and replaced with single use (virtual) contact or payment details. Ryanair has engaged with the Data Protection Commission in respect of the inquiry, explaining that its verification requirement is designed to ensure compliance with safety and security protocols, and that the process of verification fully complies with the requirements of the GDPR. The inquiry is ongoing and while Ryanair is confident in its position, the Data Protection Commission may ultimately find that the verification process has not fully complied with the GDPR, which could lead to the imposition of a substantial fine.\n\n​\n\nDividend Policy\n\n​\n\nUnder the Group’s current dividend policy, Ryanair plans to return approximately 25% of prior-year Profit After Tax (adjusted for exceptional items) by way of ordinary dividend to our shareholders. An ordinary dividend of €0.193 per share was paid in February 2026 and a final dividend of €0.195 per share was declared (payable after 2026 AGM approval). Additionally, the Board, taking into account prevailing market conditions and ensuring that the Group retains a prudent level of cash to fund debt and capex requirements will retain the flexibility to consider, when or if appropriate, the return of surplus cash to shareholders through special distributions (including dividends and/or share buybacks).\n\n​\n\nShare Buyback Program\n\n​\n\nFrom FY08 to FY21, under multiple share buyback programs, the Group repurchased over 467m shares (including Ordinary Shares underlying ADRs) at a total cost of almost €5bn.\n\n​\n\nIn May 2024, the Company announced and launched a €700m share buyback program (including Ordinary Shares underlying ADRs) subsequently completed in August 2024. A follow-on €800m share buyback program was announced and launched in late August 2024 and completed in April 2025. In May 2025, the Company announced and launched a further €750m share buyback program, which remains ongoing at March 31, 2026.\n\n​\n\nRepurchased shares during FY26 were equivalent to approximately 2% of the Company’s issued share capital at March 31, 2025. All shares purchased under the share buyback programs are cancelled.\n\n​\n\nSee “Item 9. The Offer and Listing—Trading Markets” below for further information regarding share buybacks.\n\n​\n\n70\n\n[Table of Contents](#TOC)\n\nSIGNIFICANT CHANGES\n\n​\n\nOn May 25, 2026, the Company repaid its last €1.2m bond.\n\n​\n\nBetween April 1, 2026 and June 17, 2026, the Company bought back approx. 6m ordinary shares at a total cost of approx. €138m under its ongoing share buyback programme. This brought total spend to approx. €656m."}