Ryanair Cuts Winter Traffic Target as Jet Fuel Spike Raises Rival Survival Risk
Ryanair lowered its winter traffic target to reduce exposure to high unhedged jet fuel prices and warned some less well-hedged rivals could struggle to survive the winter. With about 20% unhedged, it is exposed to jet fuel around $140 per barrel. Higher oil prices could materially lift short-haul fares, while the Strait of Hormuz closure is also driving major fuel-cost hits across the industry.