Ryanair hit by pricier fuel, considers wage freeze

02.11.2026 12:00 HotInfo

Irish low-cost airline Ryanair's after-tax profit fell six percent year-on-year to €1.61 billion in the second financial quarter. The company's performance was affected mainly by higher jet fuel costs, which spiked sharply after the outbreak of conflict between the United States, Israel and Iran. Revenue nevertheless increased. zpravy.aktualne.cz ↗

For the first half of the financial year, Ryanair's net profit fell by 15 percent according to published data. The company stated that it has not pre-purchased part of its fuel. The price of this unhedged portion doubled to approximately 130 dollars per barrel. Trend ↗

Ryanair is therefore reviewing all cost items and preparing austerity measures. Steps under consideration include a temporary freeze on employee wages, reducing the number of crew members on flights, and wider use of artificial intelligence. The company also warned that potential savings could affect the company's operations next year. The Guardian ↗

Ryanair CEO Michael O'Leary warned that if the conflict in the Middle East is not resolved quickly, fuel prices could remain high next year as well. According to the company, this would create pressure on ticket prices, which could rise significantly. ekonomika.pravda.sk ↗

Further developments will depend primarily on how the conflict and oil prices evolve. Ryanair continues to review its costs for now and has not ruled out additional measures to mitigate the impact of more expensive fuel on its performance. RTE News ↗