CEO reported a 15 percent decline in profits to 2.15 billion euros for the first half of the fiscal year. The Irish airline faced rising expenses as the price for unhedged kerosene doubled, with fuel costs now near 170 dollars a barrel.
The carrier currently maintains 2.6 billion euros in liquid assets and 650 aircraft on its balance sheet after repaying 1.3 billion euros in debt. However, Ryanair recently lowered its annual passenger target from 216 million down to 214 million travelers.
Looking ahead, O’Leary expects fuel costs to rise by two billion euros next year. He predicts these financial pressures will impact consumers directly, with flight ticket prices potentially increasing by 10 to 20 percent by the year 2027 as a result.