Ryanair reported a 34% drop in profit after tax to €593 million for its fiscal first quarter, as a 6% decline in average fares and a spike in unhedged jet fuel prices offset a 6% increase in passenger numbers. Revenue edged up 1% to €4.4 billion, but the airline warned that summer fares are likely to remain slightly below last year's levels due to consumer hesitancy. Management highlighted that about 80% of fuel needs through March 2027 are hedged at $67 per barrel, with an additional 15% of next year's requirements hedged at $85 per barrel, which it says positions the carrier better than many competitors. The company declined to provide a full-year profit forecast, citing the importance of close-in bookings over the remainder of the summer.
Ryanair Holdings plcProfit slumps 34% due to lower fares and higher fuel costs, with a warning on summer fares.
