Ryanair cuts traffic target amid high oil prices

Ryanair has warned that persistently high oil prices could force some rival European airlines to struggle to maintain capacity or even collapse, while pushing shorthaul airfares materially higher into 2027. The Irish low-cost carrier announced on September 2, 2026, that it has cut its passenger traffic target for its current fiscal year to reduce its exposure to expensive unhedged fuel during the winter season. The airline's caution follows a recent surge in crude oil prices linked to an escalation in Middle Eastern tensions. According to the International Air Transport Association, the average cost of jet fuel has climbed 8.2 percent month-on-month to approximately $156 per barrel, representing a 74.2 percent increase compared with the previous year. Ryanair itself noted jet fuel was currently around $140 per barrel. In response, Ryanair has revised its 2027 passenger traffic target downward from 216 million to 214 million passengers. The company stated this adjustment is a deliberate move to curtail its consumption of costly unhedged oil during the typically unprofitable winter schedule, which runs from November through March.