Ryanair Sees €2 Billion Fuel Bill Rise by 2028

Ryanair expects its fuel bill to rise by about €2 billion in the fiscal year ending March 2028, as lower-priced fuel hedges expire, and says higher fares are unlikely to cover the increase fully. The estimate is based on current forward prices, the airline said. The company’s forecast points to a substantially higher fuel expense after its existing protection declines, adding pressure to costs even if short-haul fares rise. The projected amount is Ryanair’s estimate, not a reported expense already incurred. Ryanair said it has hedged 80% of its fuel needs through March 2027 at about $67 a barrel. For fiscal 2028, coverage is about 25% at roughly $95 a barrel. Those contracts leave the airline less protected against higher market prices as the earlier hedges roll off. The company is reviewing costs in response. Measures under consideration include temporary staff pay freezes, negotiations with airports, lower crewing ratios and greater use of artificial intelligence in operational and back-office work. Ryanair has not said it has decided to impose pay freezes or identified which workers or agreements would be affected. Ryanair also reported after-tax profit of €2.15 billion for...