Ryanair, the Irish low-cost airline, has cut its passenger target for fiscal year 2027 to 214 million from 216 million to reduce exposure to winter fuel costs. The company warned that persistently high jet fuel prices, currently around $140 per barrel, could push up short-haul European fares. However, it still expects to be profitable in fiscal 2027, having hedged about 80% of its jet fuel needs through March 2027 at an average price of around $67 per barrel. Although after-tax profit is expected to be below the record high of fiscal 2026. Ryanair said August passenger numbers were 22.2 million, up 6% from 21 million in the same period last year, while the load factor was 96%, flat year-on-year. In August, Ryanair operated more than 120,500 flights. Meanwhile, Ryanair had to cancel more than 400 flights in August due to the eruption of Mount Etna in Italy.
Ryanair Holdings plcAugust passengers rose 6% to 22.2 million with a flat 96% load factor, but over 400 flights were cancelled due to the Mount Etna eruption.
