Ryanair will operate fewer flights than planned this winter to limit the impact of high fuel prices, and has warned that fares could rise next year if those prices remain elevated.
The Irish budget airline announced the move on Wednesday as energy prices have risen sharply in recent months because of the war in the Middle East.
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Airlines are often partly protected from such increases through hedging, which allows them to buy jet fuel in advance at a fixed price.
Ryanair said it has hedged 80% of its fuel at 67 dollars a barrel, while the market price of kerosene has since risen to around double that level.
In a statement, the airline said it was “prudent to strategically limit exposure to unhedged jet fuel during the loss-making winter season”, which runs from November to March.
As a result of the reduced winter schedule, Europe’s largest airline by passenger numbers expects no passenger growth this winter compared with a year earlier.
Ryanair has also cut its full-year passenger forecast, for the financial year ending in March 2027, to 214 million from 216 million.
Summer is traditionally the strongest period for airlines, while winter often brings losses.
Ryanair said the winter schedule cuts would reduce its expected seasonal loss by €70 millions, leaving a winter loss of about €100 million.
The airline also said that if oil prices stay high into the summer 2027 season, ticket prices for short-haul flights in Europe are likely to rise significantly.
Despite the pressure from fuel costs, Ryanair said it still expects to make a profit for the full financial year, although it will be below last year’s record profit of more than €2 billion.
