Ryanair stock slides 6% as higher fuel costs amid Iran war dent profit
Ryanair reported a 34% drop in first-quarter profit to 538 million euros, driven by a doubling of unhedged jet fuel costs and a 6% decline in ticket fares amid the ongoing Iran war and Middle East crisis. The budget airline's CEO Michael O'Leary warned that unprofitable European airlines face a 'difficult winter' as consumer hesitancy and economic uncertainty delay bookings. Ryanair's shares fell 5.6% on the news. The company has 80% of its 2027 jet fuel hedged at $67 per barrel, but 20% remains exposed to price spikes. Aviation analysts expect more airline failures and flight cancellations if fuel prices remain elevated, with the average jet fuel price surging 41% year-over-year to $127 per barrel. Ryanair issued conservative guidance, citing high sensitivity to geopolitical developments in the Middle East and Ukraine.
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