Ryanair considers pay freezes and reducing crew on flights as fuel costs soar
Summary
Ryanair is reviewing cost cuts, including possible temporary pay freezes, fewer crew on flights and more use of AI, as it expects fuel costs to rise by about €2bn in the financial year ending March 2028. The airline expects European short-haul fares to rise materially, while reporting lower quarterly profit but increased passenger numbers.Key Facts
- Ryanair said the Middle East conflict could keep jet fuel prices elevated well into 2027.
- The company estimates its fuel bill will rise by about €2bn in its next financial year, which ends in March 2028.
- Ryanair is reviewing airport costs, labour agreements, crew levels and AI use to reduce expenses.
- Ryanair expects European airlines to raise ticket prices by as much as 20%.
- Ryanair has hedged 80% of its fuel needs through the end of March at $67 a barrel, and 25% of its needs for the following 12 months at $95 a barrel.
- Average fares fell 2% year on year in the quarter ending in September.
- Ryanair reported quarterly post-tax profit of €1.61bn, down 6% year on year, while passenger numbers rose 5% to 64.5 million.
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