Ryanair fuel costs eat into Q3 earnings

Ryanair has reported a third quarter net profit of €15 million, compared to a bumper prior year third quarter net profit of €211 million as higher fuel costs offset revenue gains. Revenue rose by 17% to €2.70bn.  Fuel costs rose by 35% to €1.2bn during the three months to December 2023, while overall operating costs were up 26% to €2.72bn. Ryanair extended its fuel hedging programme to 65% of FY25 at $79bbl saving €450 million. While traffic and fares are reported to be ahead of prior year, close-in Christmas/New Year loads and yields were “softer than previously expected” as Ryanair