Ryanair's Profits Plummet 34% Amid Middle East Turmoil

WHO:

BBC News - Ryanair is the Irish airline reporting the profit drop.

CNBC - Michael O'Leary is the CEO of Ryanair.

CNBC - John Strickland is an aviation analyst and director of JLS Consulting.

WHAT:

BBC News - Ryanair's profits dropped 34% amid turmoil in the Middle East.

CNBC - Ryanair's profit after tax for the April to June quarter fell to 538 million euros ($615.3 million), down from 820 million euros the previous year.

CNBC - Operating costs rose 11% to 3.81 billion euros.

CNBC - Ticket fares declined by 6%.

CNBC - The average price of jet fuel surged to $127 per barrel for the week ending July 10, up 41% from the prior year.

CNBC - Ryanair's jet fuel for 2027 is currently 80% hedged at $67 per barrel, and 15% hedged for 2028 at $85 per barrel.

WHERE:

CNBC - The Ryanair aircraft was photographed at Thessaloniki airport "Makedonia" in Thessaloniki.

WHEN:

CNBC - The profit report covers the April to June quarter.

CNBC - Ryanair's CEO mentioned the potential for "failures" among competitors in the winter season.

WHY:

BBC News - Increased oil prices and the Middle East crisis have led to higher costs and consumer hesitancy in booking flights.

CNBC - Ryanair cited adverse geopolitical developments, including escalating conflict in the Middle East and Ukraine, as factors affecting profit after tax.

HOW:

CNBC - Ryanair's conservative hedging policy is designed to insulate it from the volatility of oil prices.

CNBC - The company is adjusting fares downward to stimulate demand due to consumer hesitancy.

(UPDATED July 20, 2026 16:28 UTC)

Ryanair has reported a significant profit drop of 34%, with its profit after tax for the April to June quarter falling to 538 million euros, down from 820 million euros the previous year, amid rising operating costs and declining ticket fares. The airline's CEO, Michael O'Leary, attributed this downturn to increased oil prices and geopolitical tensions, particularly in the Middle East and Ukraine, which have led to consumer hesitancy in booking flights. To navigate these challenges, Ryanair is adjusting its fares downward to stimulate demand and has hedged 80% of its jet fuel for 2027 at $67 per barrel.