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Ryanair cuts winter traffic outlook amid high unhedged jet fuel costs
The carrier said it hedges about 80% of fuel costs at $67 per barrel, leaving an exposed portion linked to jet fuel near $140 per barrel.
Ryanair said it has lowered its winter traffic target to reduce exposure to high unhedged jet fuel costs, warning that less well-hedged competitors could struggle to survive the season.
According to the airline, the remaining unhedged portion of its fuel costs is highly exposed because jet fuel is trading at about $140 per barrel, after higher fuel costs have already pressured airline profitability globally.
Ryanair expects winter traffic to be broadly flat year over year, cutting the winter passenger outlook to 214 million from 216 million, for the Nov. to Mar. period.
The airline also said that if high oil prices persist into 2027, short-haul airfares in Europe could rise as some competitors may be unable to maintain capacity.