Isophoric News · Tuesday, November 3, 2026
Ryanair's first-half profit falls 15% as unhedged fuel doubles; O'Leary says fares could rise up to 20% next year
Ryanair reported first-half profit after tax of 2.15 billion euros on Monday, down 15 percent from 2.54 billion euros a year earlier, as the price of the 20 percent of its jet fuel it had not hedged doubled to about $130 a barrel, the airline said. It estimated its fuel bill for the year to March 2028 would rise by about 2 billion euros at current forward prices, and said higher fares were "unlikely to provide a full offset." Chief executive Michael O'Leary said on CNBC after the results that he expects European airfares to rise by 10 percent, and maybe 20 percent, next year, Fortune reported. Ryanair said it has 80 percent of this year's fuel hedged at about $67 a barrel and 25 percent of next year's at about $95, and that it is reviewing costs, including possible temporary pay freezes in maturing labor agreements.
