Ryanair profit falls 36% as higher jet fuel costs eat into earnings
Operating costs rose 11% to €3.8bn in the three months to June after the price of unhedged jet fuel more than doubled to $150 a barrel. Ryanair said lower fares, linked to weaker demand during the Middle East conflict, pushed revenue down 1% to €4.3bn even though passenger traffic rose 6%. Shares fell 5.7% on Monday as the airline warned future pricing depends heavily on late summer bookings.
Lost in this story? That's the point of BriefTea.
Open it in the app and tap Learn from this — the Knowledge Galaxy turns the story into a map of everything it assumes you know, one tap at a time. Free, no ads, no paywall.
Get BriefTea on the App Store