Ryanair said it would reduce its winter schedule in response to higher fuel costs. (EPA Images pic)DUBLIN: Irish no-frills airline Ryanair on Monday said net profit dropped 6% in its second quarter (Q2) as the Middle East war drove up fuel costs and impacted ticket prices.
Profit after tax fell to €1.61 billion (US$1.8 billion) in the three months to the end of September, from €1.72 billion one year earlier, the Dublin-based carrier said in a statement.
Ryanair, which is Europe's biggest airline by passenger numbers and flies mainly across the continent, said the cost of fuel not subject to advance purchase agreements had soared owing to the US-Iran war.
"Unless there is a swift resolution of the Middle East conflict, we expect jet-fuel prices to remain elevated well into 2027," said chief executive Michael O'Leary.
