Ryanair Cuts Winter Flights in Europe Amid Rising Fuel Costs

Europe’s largest airline by client numbers lowered its passenger target for the fiscal full year ending April 2027 to 214 million from 216 million. The Dublin-based carrier expects the timetable reductions to carry two million fewer passengers during the financial year. “It is sensible to strategically reduce the group’s exposure to unhedged jet fuel during the unprofitable winter schedule,” Ryanair said in a statement. The carrier tends to post losses between November and March as seasonal demand drops following the peak summer period. By trimming its timetable, the airline expects to slash its winter losses by €70 million to €100 million ($80 million to $115 million). Ryanair noted that passenger numbers between November and March will remain broadly flat compared to the previous year, describing the schedule contraction as a one-off measure. Airlines worldwide have grappled with more than six months of elevated jet fuel costs following the outbreak of conflict in the Gulf, which began after the United States and Israel launched attacks on Iran. Those strikes sparked market concerns that production facilities for kerosene could face shortages. While jet fuel prices have retreated from their initial peaks, the International Air Transport Association reported that jet fuel averaged $157 a barrel last week. That figure represents a more than 70 percent increase from the $90 price tag recorded at the start of 2026, outpacing the rate increases seen in crude oil. Ryanair noted that it has secured the majority of its jet fuel needs for the current financial year at approximately $67 a barrel, keeping the company on track for an overall profitable 2026/27 term. However, net profit is anticipated to fall below the carrier’s record profit after tax of €2.17 billion achieved in 2025/26. The airline remains exposed to market rates for the remainder of its unhedged fuel requirements. The capacity reductions mark an unusual shift for Ryanair, an airline known for aggressively pursuing market share. The move could trigger a wider reevaluation of capacity plans among competing European carriers. Looking ahead to the warmer months, Ryanair warned that European short-haul fares will increase materially if high oil prices persist through the summer of 2027. Although ticket prices have trended downward as carriers compete to fill seats, the restriction of available seats is expected to help airlines pass a greater share of fuel costs directly onto consumers. Ryanair cautioned that less well-hedged competitors may struggle to survive the coming winter months as the industry adjusts to the prolonged market pressures.