Ryanair expects fuel bill to rise $2.23 billion, plans cost cuts and $893 million buyback

Ryanair expects a significantly higher fuel bill for fiscal 2028 due to the Middle East conflict, with an estimated increase of around 2 billion euros ($2.23 billion). The company is pursuing cost cuts through airport negotiations, maturing labor agreements, lower crewing ratios, and AI. It plans an 800 million euro ($893 million) share buyback starting February. Quarterly pretax profit fell to 1.83 billion euros from 1.96 billion, revenue rose to 5.7 billion euros, and net profit dropped 6% to 1.61 billion euros. Ryanair cut its passenger-traffic forecast for the current fiscal year and has limited visibility into the fourth quarter. It is 80% hedged for fiscal 2027 at $65/barrel but only 25% hedged for fiscal 2028 at $95/barrel.