Overview
- On Monday, May 18, Ryanair reported a record €2.26 billion after-tax profit for the year to March and revised its July–September fares forecast to ‘‘broadly flat’’.
- Ryanair has hedged roughly 80% of its jet fuel needs but says the remaining 20% has ‘‘spiked,’’ creating exposure that could raise operating costs by a mid-single-digit percentage in 2026–27.
- The airline’s CFO said suppliers are redirecting fuel from West Africa, the Americas and Norway and that the immediate risk of shortages is receding as refiners increase output.
- Carriers are seeing more last-minute bookings, which reduces demand visibility and means passengers who delay booking could face higher last-minute prices.
- Background to the spike is the effective closure of the Strait of Hormuz after the Iran war, a shock that pushed oil and jet-fuel prices higher and prompted IEA warnings about Europe’s limited jet‑fuel stocks.