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Why Ryanair’s profits have fallen amid struggles at budget airline
Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleRyanair reported a 34 per cent drop in after-tax profits, reaching €538 million for the three months ending in June. The profit slump was primarily attributed to a doubling of jet fuel prices for its unhedged fuel requirements and a strategic 6 per cent reduction in average fares. Chief executive Michael O’Leary explained that fares were proactively lowered due to the Middle East conflict, consumer hesitancy, and economic uncertainty. Despite a 6 per cent increase in passenger numbers to 61.3 million and a 1 per cent rise in revenues, these gains were insufficient to offset an 11 per cent jump in operating costs. The airline's full-year outlook remains uncertain, with Mr O’Leary stating it is highly sensitive to external developments such as ongoing conflicts, unhedged jet fuel prices, and European air traffic control strikes. In fullRyanair profits slump as Iran war sends jet fuel prices soaringMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
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irishtimes.com
Ryanair profits fall by a third to €538m
Traffic climbs 6 per cent over the three months to June 30th but fuel bills soar
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cnbc.com
Ryanair profit slumps 34% as airlines brace for a 'difficult winter' amid Middle East crisis
Ryanair's first-quarter profit took a 34% hit as consumers delayed bookings due to the Middle East crisis, while struggling airlines face a "difficult winter."
