Business & Markets
Ryanair says quarterly profit fell as fuel costs and weaker fares hit results
Ryanair said net profit fell 34% in its first quarter after the Middle East conflict pushed up jet-fuel costs and weighed on ticket sales. The Irish no-frills airline said profit after tax was 538 million euros, or $616 million, in the three months to the end of June, down from 820 million euros a year earlier.
The Dublin-based carrier, which AFP described as Europe's biggest airline by passenger numbers, said fuel not covered by advance purchase agreements became more expensive because of the US-Iran war. Chief executive Michael O'Leary said in the company's earnings statement that operating costs rose 11% to 3.81 billion euros as the price of the airline's 20% unhedged jet fuel more than doubled in the quarter.
Ryanair said passenger traffic increased 6%, while fares fell 6%. O'Leary said fares needed support because the Middle East conflict had led to consumer hesitancy, concerns about European Union jet-fuel shortages, economic uncertainty and later bookings.
O'Leary said Ryanair's net profit for the rest of its financial year remained highly sensitive to any escalation in the Middle East and Ukraine conflicts, the price of unhedged jet fuel, macroeconomic shocks and European air traffic control strikes.
Ryanair shares fell nearly 6% in Dublin midday trading after investors reacted to a larger-than-expected profit drop. Susannah Streeter, chief investment strategist at Wealth Club, said the results showed how quickly concern over the war had affected booking patterns and operating costs, and said consumers appeared to be delaying discretionary spending.
Update
Ryanair said operating costs rose 11% to 3.81 billion euros.
Chief executive Michael O'Leary said the cost of Ryanair's 20% unhedged jet fuel more than doubled in the quarter.
O'Leary said profit for the rest of the financial year remains highly sensitive to conflicts in the Middle East and Ukraine, unhedged jet-fuel prices, macroeconomic shocks and European air traffic control strikes.
Ryanair's share price fell nearly 6% in Dublin midday trading after the results.
Susannah Streeter of Wealth Club said war-related nervousness had affected booking patterns and operating costs.
Source note: AFP news report published on 20 July 2026 at 12:05:09 UTC.
Update
Ryanair said operating costs rose 11% to 3.81 billion euros in the quarter.
Chief executive Michael O'Leary said the price of Ryanair's 20% unhedged jet fuel more than doubled.
Ryanair said passenger traffic grew 6% while fares fell 6%.
O'Leary said fares needed stimulation because of consumer hesitancy, concerns about EU jet-fuel shortages, economic uncertainty and later bookings linked to the Middle East conflict.
O'Leary said profit for the rest of the financial year remains highly sensitive to conflict escalation in the Middle East and Ukraine, unhedged jet-fuel prices, macroeconomic shocks and European air traffic control strikes.
Source note: AFP news report published on 20 July 2026 at 05:48:28 UTC.
Update
Ryanair said profit after tax fell to 538 million euros, or $616 million, from 820 million euros a year earlier.
The result covered the three months to the end of June.
Ryanair said the Middle East conflict sent jet fuel prices higher and affected ticket sales.
Source note: AFP news report published on 20 July 2026 at 05:21:30 UTC.
Uncertainty notes
Ryanair said its outlook remains sensitive to several external risks, including conflicts, fuel prices, macroeconomic shocks and air traffic control strikes.
Source
AFP news report published on .