Ryanair, Europe's largest airline by passenger traffic, reported a 7 per cent increase in monthly passenger total to 22.2 million in July, surpassing the previous record of 21.9 million set in June. However, profits fell by 34 per cent to €538 million in the second quarter due to lower fares and higher fuel costs.
Ryanair's monthly passenger total exceeded 22 million for the first time in July, with the airline carrying 22.2 million passengers last month, up 7 per cent on the same month last year.
On a 12-month rolling basis to the end of July, Ryanair carried 213.2 million passengers, a 5 per cent increase year-on-year. Ryanair saw profits fall by 34 per cent to €538 million in the second quarter as lower fares and higher fuel costs squeezed margins. The weaker results were the latest sign of how the five-month-old US-Iran war and parallel rise in oil prices is turning up the heat on airlines.
Price-sensitive passengers are said to be booking later, with only about 40 per cent of September seats sold, prompting analysts to cut targets while Ryanair itself has warned summer fares are likely to be lower than expected. Germany's Lufthansa cut its profit outlook on Tuesday and warned earnings could fall this year after the Iran war drove up fuel costs, sending its shares down more than 10 per cent and putting them on track for their biggest one-day drop since 2021.
The warning underscores the pressure on European airlines as higher jet fuel costs pressure margins despite hedging programmes. Lufthansa has also been grappling with costly strike disruptions as it works to turn around its business. Investors are closely watching the sector's ability to cope with sustained fuel-price volatility, with some analysts warning that successive crises could intensify pressure on weaker players. How did Michael Fingleton get away with it?
'I checked my husband's 'golf' holiday and can't find any of the friends who went with him' Rich payday for bosses at Re-turn and ESB and don't put off checking your pension statu
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