Ryanair reports Q1 after-tax profit of €538M, down from €820M a year earlier, citing rising jet fuel prices and fare pressure.
Ryanair posted a first-quarter after-tax profit of €538M ($615.9M), a 34% decline from €820M ($938.7M) in the same period last year. The drop reflects higher jet fuel costs and lower fares, the airline said.
The carrier warned that unprofitable airlines face a challenging winter due to sustained cost pressures. Analysts had expected a softer impact from fuel prices, but fares remained under pressure amid weaker demand.
Shares of Ryanair (RYAAY) showed limited reaction in early trading, as the results aligned with pre-announced guidance.