Ryanair has reported a drop in profits, attributing the decline to the impact of recent hostilities in the Middle East. The airline stated that the conflict has had a dual negative effect, simultaneously deterring potential passengers and driving up operational costs.
Soaring Energy Prices
The company highlighted that rising oil prices have significantly squeezed their margins. This financial pressure coincides with benchmarks for Brent crude surpassing the $90 mark, a level not seen in recent months.
Looking ahead, the carrier indicated that the combination of geopolitical instability and increased fuel expenses presents a challenging outlook for the sector.
Source: BBC News