RYANAIR Half-Year Results 2019

Current Developments ✈ Lower fares & higher fuel drive airline failures/sales ✈ Cost control & cost leadership maintained ✈ OTP & guest satisfaction improves ✈ Substantial completion of union deals UK/Ger/It/Por/Ire ✈ New Environmental Policy - lower CO2 pax/km ✈ MAX-200s delayed to Q4 - could slip further, slower growth FY21 ✈ €700m buyback launched in May, over €250m returned to date RYANAIR

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