Ryanair profit may come under ‘a bit of pressure’ if oil prices stay high, CEO says
Key takeaways
- “Our profits may well be under a bit of pressure for the next 12 months if oil prices remain high for longer,” O’Leary told a news conference on Thursday ahead of reporting results for its last financial year on Monday.
- “Close-in (last minute) bookings are strong and pricing is strong but three, four months out, we’re having to open up a little bit of pricing to stimulate bookings,” he said.
- If you’re traveling in June or July, ‘Can I go long haul?
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Ryanair does not expect disruption to jet fuel supplies in Europe this summer but its profit may come under “a bit of pressure” in the current fiscal year to end-March 2027 if oil prices remain high for longer, CEO Michael O’Leary said.
O’Leary said the airline, Europe’s largest by passenger numbers, does not expect to have to cancel any flights this summer but is continuing to lower fares to boost demand with some customers hesitant about booking holidays.
“Our profits may well be under a bit of pressure for the next 12 months if oil prices remain high for longer,” O’Leary told a news conference on Thursday ahead of reporting results for its last financial year on Monday.