Ryanair Revenues Drop as Middle East War & Fuel Costs Hit the Skies

Sun Sep 06 2026 05:22:07 GMT+0000 (Coordinated Universal Time)

Ryanair posts a 34% fall in pre‑tax profit, fuel spikes and a cautious traveller market keep the airline struggling.

The Irish low‑cost carrier announced a sharp decline in pre‑tax profit, falling 34% to €593 million in Q2, as jet fuel prices roughly doubled amidst the renewed Middle East conflict. Lock‑in of sale volumes remained flat, pushing Ryanair to slash fares to maintain passenger demand. Although summer fares are expected to be modestly lower than last year, the airline highlighted how external shocks such as fresh Middle East or Ukraine unrest could ripple through annual performance. Ryanair’s chief executive said that, despite full Mediterranean routes, bookings arrive closer to departure, underlining lingering consumer hesitancy.

Ryanair anticipates steep profit loss as Middle East conflict and fuel costs spike

The Irish budget carrier’s pre‑tax earnings fell a startling 34% to €593 million for the April‑June third quarter. Fuel prices that fuel planes roughly doubled since the U.S. and Israel‑launched strikes against Iran in February pushed jet fuel marks to the highest levels in the last 18 months.

Ryanair said sales were flat, and the airline had to cut fares in order to entice hesitant travellers. The company flags that the summer period’s average fares will hover slightly below last year’s levels, citing a rise in passengers booking closer to departure dates.

The airline’s chief finance officer, Neil Sorahan, noted that high‑volume Mediterranean routes remained full, yet passengers are booking later in the year, reflecting a sustained “consumer hesitancy” around air travel amid the ongoing war.

Ryanair’s results are highly sensitive to geopolitical risk, especially fresh escalations in the Middle East and Ukraine, and to the price of unhedged jet fuel. Those fuels not covered by hedges have more than doubled, further squeezing the airline’s profit margin.

Shares dropped 5% on Monday, echoing market concerns. Investment adviser Russ Mould said Ryanair “does better than many rivals” but fears the conflict will keep travel pressures high for months to come.