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(Sharecast News) - Budget airline Ryanair trimmed its FY27 traffic guidance from 216m to 214m passengers on Wednesday, citing the need to reduce exposure to unhedged jetfuel costs during the winter season, even as August traffic continued to grow.
Ryanair carried 22.2m passengers in August, up 6% yearonyear, with load factor steady at 96%. It operated more than 120,500 flights during the month, though over 400 were cancelled due to the Mt Etna eruptions. Rolling 12month traffic rose 5% to 214.4m, with load factor unchanged at 94%.
Separately, Ryanair cut its FY27 traffic target from 216m to 214m passengers to reduce exposure to unhedged jetfuel costs during the winter schedule. It highlighted that jet fuel was currently trading near $140 a barrel, prompting a strategic pullback in capacity from November to March, which it expects will leave winter traffic broadly flat yearonyear.
Ryanair said the oneoff winter reduction should narrow winter losses by 70m to 100m, and warned that persistently high oil prices could force shorthaul fares higher across Europe as less wellhedged rivals struggle to maintain capacity.
As of 1115 BST, Ryanair shares were flat at 2,005p.
Reporting by Iain Gilbert at Sharecast.com
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