Ryanair cuts 2m passengers on fuel risk

Ryanair is cutting its fiscal 2027 passenger target by two million to 214 million as it moves to limit its exposure to winter jet fuel that has not been fixed in advance. The airline announced the change in Madrid on 2 September. It still expects traffic from November to March to remain virtually unchanged from a year earlier.

Europa Press

The lower figure applies to the full-year target, rather than signalling a stated cut in winter flights. Ryanair said it has fixed the price for 80% of its fiscal 2027 fuel at about $67 a barrel, putting it in a position for another profitable year — though not one matching last year's record net profit after tax of €2,260 million.

Summer traffic, covering April to October, is still set to rise by more than 5%. But Ryanair's July forecasts pointed to second-quarter fares slipping slightly against the same period a year earlier. The carrier flew 22.2 million passengers in August, up 2% from 21 million a year earlier, with planes 96% full.

The bigger concern is what happens if oil stays expensive into the second half of 2027. Ryanair believes European short-haul fares could rise significantly as airlines pass on higher fuel costs.

It says rivals with weaker fuel cover may struggle to keep capacity through the next winter season — or even to survive it.

Ryanair cuts 2m passengers as fuel risk bites