Ryanair Lowers 2027 Passenger Target to Manage Unhedged Oil Price Risks
Ryanair Adjusts Passenger Forecast Amid Oil Price Volatility
Passenger Target Reduction
Sept 2 (Reuters) - Europe's biggest budget airline Ryanair on Wednesday cut its fiscal 2027 traffic target to 214 million passengers from 216 million to reduce its exposure to unhedged oil prices during the winter season.
Impact of High Oil Prices
The Dublin-based carrier also warned that sustained high oil prices, with jet fuel currently around $140 a barrel, could push up short-haul airfares in Europe.
Jet Fuel Hedging Strategy
With 80% of its jet fuel hedged through March 2027 at roughly $67 per barrel, Ryanair forecast another profitable year, although profit after tax would fall short of fiscal 2026's record level. It did not provide further details.
Reporting and Editorial Credits
(Reporting by Yamini Kalia in Bengaluru; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)
