Ryanair, Europe’s largest airline by passenger numbers, has warned that consumer anxiety linked to the war involving Iran could weigh on its profits during the summer travel season, News.Az reports, citing Al Jazeera.
The low-cost carrier had previously expected low single-digit percentage increases in fares during the peak summer months. However, it now says pricing is “trending broadly flat” for the July-to-September period due to inflation concerns and worries over potential fuel shortages.
The airline noted that forecasting fare trends remains difficult and said summer profitability will depend heavily on last-minute bookings.
Earlier, Ryanair reported a record profit for the fiscal year ending in March, posting an after-tax profit of 2.26 billion euros ($2.63 billion).
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