Ryanair to cut winter schedule as fuel costs rise

Ryanair said Wednesday it would cut its winter schedule as higher fuel costs hit the airline industry, and lowered its passenger target for the fiscal year to April 2027.

The Irish low-cost airline, Europe's biggest by passenger numbers, reduced its full-year passenger target to 214 million from 216 million.

Ryanair said the one-off winter schedule cut would reduce its exposure to unhedged jet fuel during the loss-making winter period. It said the move was expected to reduce winter losses by 70 million to 100 million euros, or $80 million to $115 million.

The Dublin-based carrier said most of its jet fuel for the current financial year was secured at around $67 a barrel, below current prices, and that it remained on course for a profitable 2026-27. It estimated, however, that net profit would fall below its record 2.17 billion euros profit after tax in 2025-26.

Ryanair also warned that European short-haul fares would increase materially if high oil prices continued through to summer 2027.