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Ryanair says it may freeze pay as fuel costs rise

Ryanair said Monday it is reviewing costs, including possible temporary pay freezes, after first-half profit fell 15 percent and it forecast a higher jet-fuel bill, according to the airline.

What's new
  1. RTE News is now reporting this
  2. New headline Was: “Ryanair says it may freeze workers' pay and raise airfares”
  3. Our desk filed its story
  4. New headline Was: “Ryanair may freeze workers' pay and raise airfares”
  5. New headline Was: “Ryanair may freeze workers' pay and raise fares on higher fuel prices”
1 earlier update
  1. The Guardian is now reporting this

Ryanair said Monday it is reviewing costs, including possible temporary pay freezes, after first-half profit fell 15 percent and it forecast a much higher jet-fuel bill if Middle East fighting continues1,3,4.

The Dublin-based carrier posted after-tax profit of 2.15 billion euros ($2.3 billion) for the six months through September, down from 2.54 billion euros a year earlier, as unhedged fuel prices rose3,4. Revenue rose 3 percent to 10.08 billion euros and passenger numbers rose 6 percent to 125.8 million4.

Chief executive Michael O'Leary said jet fuel prices are expected to stay high well into 2027 without a swift resolution of the conflict, and that a rise in European short-haul fares is unlikely to fully offset an estimated 2 billion euro increase in the fuel bill for the year ending March 20284. He told CNBC that European fares could rise by 10 percent or even 20 percent next year as hedges roll off3.

Ryanair said fuel through March 2027 remained 80 percent hedged at $67 a barrel4. Besides possible pay freezes on maturing labor deals, it said it is looking at airport talks, lower crew ratios and more use of artificial intelligence3,4. The BBC said it had asked Unite, which represents Ryanair staff, for comment1. No freeze or fare increase has been imposed.

Sources

  1. BBCRyanair says it may freeze workers' pay and raise airfares
  2. The GuardianRyanair considers pay freezes and reducing crew on flights as fuel costs soar
  3. CNBCRyanair CEO warns fares could rise by up to 20% in 2027 as fuel bill jumps by $2.2 billion
  4. RTE NewsRyanair's half year profit falls 15% as fuel costs rise

How it’s being reported

4 sources

First reported by RTE NewsRTE News

Where they agree

  • First-half profit fell 15 percent to 2.15 billion euros.
  • The airline is reviewing costs including possible temporary pay freezes.
  • It forecasts about 2 billion euros more in fuel costs if prices stay elevated.
  • Management says European fares are likely to rise and may not fully offset fuel.

Where they differ

How large fare increases could be

Side by side

Each outlet's article broken down by our newsroom, in our own words. To read what they wrote, use the button under each one.

BBC

Ryanair says it may freeze workers' pay and raise airfares

Possible staff pay freeze and higher fares tied to a forecast extra fuel bill.

Ryanair said it is considering a temporary wage freeze as fuel costs surge after the U.S.-Israel war with Iran. BBC News

Leaves out Detailed first-half passenger and hedge figures.

Possible staff pay freeze and higher fares tied to a forecast extra fuel bill.

What it reports

  • The airline forecast fuel prices remaining high well into 2027 without a swift end to the conflict.
  • It said its fuel bill is forecast about 2 billion euros higher in the short term.
  • The BBC said it had asked Unite, which represents Ryanair staff, for comment.

Leaves out Detailed first-half passenger and hedge figures.

CNBCCNBC

Ryanair CEO warns fares could rise by up to 20% in 2027 as fuel bill jumps by $2.2 billion

O'Leary interview on fare hikes, hedges and winter capacity.

Michael O'Leary told CNBC European airfares could rise as much as 20 percent in 2027 as hedges roll off.

Leaves out Union comment.

O'Leary interview on fare hikes, hedges and winter capacity.

What it reports

  • First-half profit fell 15 percent to 2.15 billion euros.
  • O'Leary said jet oil was about $170 a barrel and hedges are rolling off.
  • He said European fares could rise 10 percent or even 20 percent next year.
  • Ryanair cut its full-year traffic target to 214 million passengers and expects winter traffic roughly flat.

Leaves out Union comment.

RTE NewsRTE News

Ryanair's half year profit falls 15% as fuel costs rise

Earnings figures, hedging and O'Leary statement on fuel.

Ryanair reported a 15 percent drop in half-year profit and said temporary pay freezes may be needed.

Leaves out CNBC interview remarks on a 10-20 percent fare range.

Earnings figures, hedging and O'Leary statement on fuel.

What it reports

  • After-tax profit was 2.15 billion euros for six months to September, down from 2.54 billion euros.
  • Revenue rose 3 percent to 10.08 billion euros; passengers rose 6 percent to 125.8 million.
  • Average fares fell 4 percent to 55.70 euros in the first half.
  • Fuel through March 2027 was 80 percent hedged at $67 a barrel; the next 12 months 25 percent at $95.
  • O'Leary said airport talks, lower crewing ratios and more AI could also cut costs.

Leaves out CNBC interview remarks on a 10-20 percent fare range.