Overview
- Ryanair reported first-quarter net profit of €538 million, a 34% drop from a year earlier, with operating costs rising 11% to €3.81 billion.
- The airline says 80% of its fuel was hedged but the remaining 20% more than doubled in price in April–June, creating the bulk of the extra cost pressure.
- Passenger numbers grew about 6% while average ticket prices fell roughly 6% as Ryanair lowered fares to stimulate bookings in the face of weaker consumer demand.
- Ryanair missed a company-survey analyst median of €579 million and has revised its near-term view to expect slightly lower summer fares than previously signalled.
- The group cautioned that future results will depend on whether conflicts in the Gulf or Ukraine escalate, how unhedged fuel costs move, and any strikes by European air-traffic-control, all of which could push fares, capacity and profit lower.