Ryanair cuts its passenger numbers forecast due to high fuel prices
The Irish low-cost airline has reduced its passenger target for the 2027 financial year from 216 million to 214 million. Winter capacity has been frozen to limit the impact of jet fuel costs.
High oil prices linked to the war in Iran are beginning to reshape the balance of power in European air transport. Ryanair, one of the airlines best positioned in terms of fuel hedging, has decided to reduce its traffic target for the 2027 financial year, bringing it down to 214 million passengers from the previous figure of 216 million.
The decision is primarily aimed at containing the losses expected during the winter season and limiting exposure to the cost of unhedged fuel purchases. Winter is traditionally the most difficult period for European airlines, and the surge in jet fuel prices now risks exacerbating those losses.
According to Ryanair, if high oil prices were to persist until the summer of 2027, fares for short-haul flights in Europe could rise significantly.
The Irish company also warns that airlines that are less protected against fluctuations in fuel prices may be forced to reduce their capacity further or, in the most severe cases, may not even survive the coming winter season.
Ryanair is in a relatively favourable position. The company has, in fact, secured around 80 per cent of its jet fuel requirements up to March 2027, at a price of around $67 per barrel. The company currently estimates the price of aviation fuel to be around $140 per barrel.
