Ryanair: If oil prices remain high, profits may face "some pressure"

As the largest airline in Europe by passenger volume, Ryanair expects that there will be no need to cancel any flights this summer. However, as some customers remain hesitant about booking holidays, the company will continue to reduce ticket prices to stimulate demand. Ahead of announcing last fiscal year’s results next Monday, the company’s CEO stated at a press conference: “If oil prices remain high for an extended period, our profits are likely to come under some pressure over the next 12 months.”