Ryanair cuts traffic target to 214 million

• Ryanair lowered its fiscal 2027 passenger target to 214 million from 216 million to reduce winter fuel exposure.
• The airline expects the capacity move could reduce winter losses by €70 million–€100 million.
• Ryanair reported August passenger traffic growth of 6% to 22.2 million travelers.

Ryanair (NASDAQ:RYAAY) cut its fiscal 2027 traffic target to 214 million passengers from 216 million as it reduces exposure to unhedged jet fuel costs during the winter season.

The airline plans to keep winter capacity steady compared with the prior year between November and March, a period it described as loss-making, and stated the move could reduce winter losses by €70 million–€100 million.

“Ryanair believes short-haul airfares in Europe will increase materially to reflect higher oil prices if elevated fuel costs continue,” said Ryanair management.

Ryanair stated that jet fuel was trading around $140 per barrel and that it has hedged 80% of its expected fiscal 2027 fuel needs at approximately $67 per barrel, while the remaining 20% will be purchased at market prices.

Ryanair reported August traffic of 22.2 million passengers, up 6% year over year, with a 96% load factor.

Ryanair operates short-haul flights across Europe and other international markets, serving passengers through a low-cost airline model.

The company stated that summer-season traffic from April through October is expected to grow more than 5%, while second-quarter fares were slightly below the prior-year period and the airline continues adjusting capacity amid fuel cost uncertainty.