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Ryanair shares down after Q1 profit fall
The share of Ryanair dropped by 5.6% after the company announced a 34% decline in its first-quarter profits, due to the impacts of the Middle East conflict and delayed consumer bookings. The company recorded a net profit of 538 million euros ($615.3 million) for the period from April to June, compared to 820 million euros last year. Its profits were pressured by a 6% decrease in ticket prices and an 11% rise in operating costs, especially with increasing prices for unhedged fuel and the economic and geopolitical challenges. Nevertheless, its hedging strategy helps protect against oil price fluctuations. European airlines are facing difficulties in the upcoming season as fuel prices continue to rise, threatening further challenges during the winter.
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