Ryanair revised downward its full-year passenger guidance and forecast a decline in annual earnings as elevated fuel prices weigh on profitability, though its shares still gained ground in early trading.
The Dublin-based airline now expects 214 million passengers for the year ending March 2027, down from a prior estimate of 216 million. To offset the impact of high kerosene costs during the winter season, Ryanair will maintain capacity at last year’s levels, a move projected to reduce typical seasonal losses by €70 million to €100 million.
Ryanair’s shares rose about 1.8% to €23.14 in early trade on the Dublin exchange.
The company also indicated that annual profit will fall below the record set in the prior year, citing elevated oil prices linked to the conflict in Iran. While 80% of Ryanair’s fuel requirements through March 2027 are hedged at roughly $67 per barrel, current market prices hover near $140 per barrel. In July, the airline withdrew five aircraft from its base in Charleroi, Belgium, and reduced seat availability in Brussels by two million for the winter 2026 and summer 2027 seasons in response to the cost pressures.
