- Ryanair has adjusted its summer fare projections downwards, now anticipating a mid-single digit decline for the first quarter and "broadly flat" pricing for July to September, attributing this to escalating fuel costs and consumer uncertainty from the Middle East conflict.
- The budget airline reported a 40% increase in underlying after-tax profits, reaching 2.26 billion euro (£1.96 billion) for the year ending 31 March, which was slightly better than expected.
- Despite having secured pricing for 80% of its jet fuel needs, Ryanair warned that the cost of the remaining 20% has "spiked" due to the Middle East conflict, potentially causing a mid-single digit percentage increase in overall costs by 2026-27.
- Chief Executive Michael O’Leary stated that European airlines are sourcing jet fuel from alternative countries to overcome supply shocks caused by the blockade of the Strait of Hormuz, noting that demand remains robust despite an increase in last-minute bookings.
- The company is close to finalising a four-year contract extension for CEO Michael O’Leary from March 2028, which includes a proposal for 10 million share awards contingent on ambitious profit after tax or share price growth targets.
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