Ryanair will cut 2 million seats from its winter schedule as it moves to counter rising jet fuel costs, warning airfares could rise if oil prices remain high.
The low-cost carrier on Wednesday (2 September) said it would reduce its FY27 traffic target from 216 million to 214 million passengers, with the cut focused on the “unprofitable” winter season from November to March.
The “one-off” capacity reduction is expected to cut Ryanair's winter losses by €70 million to €100 million, subject to pricing and passenger demand, the airline said.
In its latest traffic figures for August, Ryanair reported a 6 per cent year-on-year increase to 22.2 million passengers, while load factor rose one percentage point to 95 per cent.
The carrier said it is “on track” to grow summer 2026 traffic by more than 5 per cent year-on-year to 138 million passengers and, with 80 per cent of FY27 jet fuel hedged, is “well placed to record another profitable year”.
Nevertheless, it will cut winter capacity to “reduce exposure to unhedged oil” following an escalation in tensions this week between the US and Iran.
Ryanair warned short-haul airfares across Europe could also “increase materially” if elevated oil prices continue into summer 2027.
The warning comes against a backdrop of already elevated airfares, though price hikes are expected to slow in 2027, according to a GBTA and Altour forecast.