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Ryanair trims annual traffic target due to fuel prices
The airline said 80% of 2027 jet fuel is hedged, but it expects winter traffic to be broadly flat and fares to rise if oil stays high.
On Wednesday, Sep 2, 2026, Ryanair cut its fiscal 2027 traffic target to 214 million passengers from 216 million to limit exposure to unhedged oil prices during the winter season.
Sustained high oil prices are driving the decision, with jet fuel at around $140 a barrel; International Air Transport Association reports prices rose 8.2% month-on-month and 74.2% over the past year.
Ryanair remains well positioned with 80% of its 2027 jet fuel hedged at roughly $67 per barrel, and the airline operated over 120,500 flights recently with a steady 96% load factor.
Short-Haul airfares in Europe are likely to increase "materially," and Ryanair warned some competitors will "struggle to maintain capacity or even survive" this winter if oil prices remain high.
While summer traffic remains on track to grow by more than 5% to 145 million, Ryanair expects traffic from November to March to be "broadly flat," contrasting with Rival Wizz Air's 25.9% passenger growth last month.