Ryanair cuts its traffic target to 214 million to reduce unhedged fuel exposure in a loss-making winter
Ryanair cut its traffic target for the year to March 2027 from 216 million to 214 million passengers. The airline says it is sensible to reduce exposure to unhedged jet fuel during the loss-making winter schedule from November to March, with jet fuel trading at 140 dollars a barrel. The cut is expected to reduce winter 2026 losses by 70 million to 100 million euros. About 80 per cent of Ryanair's fuel needs are hedged through March 2027 at 67 dollars a barrel.
Economics & Markets··Evening
The traffic target falls from 216 million to 214 million
Ryanair cut its traffic target for the financial year to March 2027 from 216 million to 214 million passengers. The carrier said it is sensible to strategically reduce the group's exposure to unhedged jet fuel during the unprofitable winter schedule that runs from November to March. The Irish Times reported jet fuel trading at 140 dollars a barrel. The airline foresees the cut reducing its winter 2026 losses by 70 million to 100 million euros. RTÉ wrote that winter capacity is being held broadly flat year on year, with November to March traffic also expected to be broadly flat.[1], [2]
About 80 per cent of the fuel bill is hedged at 67 dollars
Ryanair has hedged about 80 per cent of this financial year's jet fuel needs in advance at 67 dollars a barrel. The Irish Times wrote that inflated prices are paid on the remaining 20 per cent while renewed hostilities between the US and Iran continue. RTÉ reported that the hedge runs through March 2027 while the market price sits near 140 dollars. The Irish Times put oil above 97 dollars a barrel at one point on Wednesday, its highest intraday level since early June. The airline still foresees a profit this year, below last year's record.[1], [2]
Summer traffic heads to 145 million while capacity is cut in Brussels and Charleroi
RTÉ wrote that Ryanair removed five aircraft from its Charleroi base in July and cut 2 million seats from its Brussels schedule for winter 2026 and summer 2027. Summer traffic from April to October is on track to rise by more than 5 per cent, from 138 million to 145 million. The Irish Times reported 22.2 million passengers in August, up 6 per cent on the same month a year earlier. The same report said fares are drifting modestly down between August and September against last year. Ryanair warned that if high oil prices ran into summer 2027, short-haul fares would increase materially and some less well-hedged competitors would struggle to hold capacity or get through the winter.[1], [2]
