Ryanair Holdings, the Irish low-cost airline company, expects to reduce the number of flights next IATA winter due to high fuel costs resulting from the Middle East war. In a statement distributed in London on Wednesday, September 2, the carrier considered it "sensible" to reduce fuel requirements during the winter season, which is unprofitable.
The European commercial aviation group lowered its traffic target for the fiscal year ending in April 2027, from the initially forecast 216 million to 214 million passengers. Ryanair, which mainly operates in Europe, typically records losses between November and March, as demand decreases after the peak summer season, expecting this one-off reduction in the winter program to cut losses by 70 to 100 million euros.
The carrier warned that short-haul flight fares in Europe could "increase significantly" if high oil prices persist until summer 2027. Since most of the fuel for the current fiscal year is covered by contracts at around 67 dollars per barrel, well below current prices, the company remains on track to make a profit in 2026/27.
Nevertheless, Ryanair estimates that net profit will be lower than the record value of 2.17 billion euros recorded in 2025/26.
