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Ryanair shares fall after first-quarter profit drops on fuel costs
CNBC reports Ryanair said its first-quarter profit fell 34% as higher fuel costs and consumer delays linked to the Middle East crisis weighed on demand.
Ryanair shares slid about 6% after the airline reported that its first-quarter profit fell 34%, with higher fuel costs cited as a key headwind, according to CNBC World.
The outlet said Ryanair also pointed to weaker consumer booking activity tied to the Middle East crisis, adding pressure to revenue at a time when travel demand appears to be softer.
CNBC added that the company warned of a difficult winter ahead for airlines facing a tougher operating environment.
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