Ryanair said its profits fell sharply as higher fuel prices and weaker passenger confidence weighed on the airline. The Irish carrier reported a 34% drop in pre-tax profit to 593 million pounds, with the downturn linked to rising energy costs and softer booking trends.
The company said conflict in the Middle East pushed up the price of oil, increasing its fuel bill at a time when airlines are already watching costs closely. Brent crude moved above $90, adding pressure to operating expenses and making flying more expensive for carriers.
Ryanair also pointed to weaker customer demand, saying some passengers were put off booking trips because of the conflict. That combination of more cautious travelers and more expensive jet fuel created a difficult backdrop for the airline's latest results.
The update highlights how quickly geopolitical tensions can affect the aviation sector, hitting both consumer sentiment and core costs. For Ryanair, the latest figures show the impact of volatile oil markets and uncertain travel demand on airline profitability.
