Ryanair reduces winter flights amid oil surge

Irish low-cost airline Ryanair has reduced its flight schedule for the winter season to mitigate the impact of rising aircraft fuel costs caused by the surge in oil prices due to tensions between the United States and Iran, which has led to increased operating expenses. The company's passenger forecast for the fiscal year ending April 2027 has been lowered to 214 million travelers from 216 million, with an expected reduction in losses by 70 to 100 million euros (approximately 80 to 115 million dollars). This decision aims to protect profit margins from escalating fuel costs, especially during the winter season, which typically incurs losses. However, the company warned that a sustained rise in oil prices could lead to unprecedented increases in short-haul European flight ticket prices through summer 2027, even as it partially hedges its fuel needs at prices below current market rates. This provides some safety margin but not complete security. Nonetheless, profits for the current fiscal year are expected to remain below the previous record of 2.17 billion euros achieved in 2025-2026, with greater risks if oil prices continue to rise.

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