Archive · 3 Sep 2026
Ryanair Cuts Passenger Target as Iran War Raises Fuel Costs
Ryanair is a large airline that usually tries to carry more passengers every year.
It now plans to carry two million fewer passengers than previously expected.
This is not because people have stopped wanting to fly.
Instead, fuel has become much more expensive after the Iran conflict.
Some winter flights could lose money if tickets are cheap but fuel is costly.
Ryanair will keep fewer extra flights in the air to avoid those losses.
The change could save the airline between €70 million and €100 million.
Ryanair is still carrying many passengers, including 22.2 million in August.
However, it expects to make less money than during its record-profit year.
Ryanair lowered its annual passenger target by two million to 214 million.
The airline expects winter capacity cuts to save between €70 million and €100 million.
Jet fuel prices surged after the Iran conflict, reaching more than $150 a barrel at times.
Ryanair carried 22.2 million passengers in August with a 96% load factor, but first-quarter profit fell 34%.
The airline expects earnings below its €2.17 billion record profit as high fuel costs pressure margins.
- Who
- Ryanair, the Irish low-cost airline.
- What
- Ryanair cut its annual passenger target by two million and plans to limit winter capacity because of high fuel costs.
- When
- The changes apply to the current financial year, particularly the November-to-March winter period; the article also discusses schedules for winter 2026 and summer 2027.
- Where
- Across Ryanair’s European network, including its bases at Charleroi and Brussels.
- Why
- Jet fuel prices rose sharply after the Iran conflict, making some additional winter flights potentially unprofitable.
- Revised passenger target
- 214 million passengers, down from 216 million.
- Estimated winter savings
- Between €70 million and €100 million.
- Fuel price exposure
- Ryanair has hedged about 80% of its fuel needs through March at approximately $67 a barrel; the remaining 20% is exposed to market prices.
- Recent passenger volume
- 22.2 million passengers in August, up 6% year over year.
- August load factor
- 96%.
- First-quarter profit
- €538 million after tax, down 34% from a year earlier.
- Previous annual record profit
- €2.17 billion.