Ryanair Q1 profit falls 34% as Iran war lifts fuel costs and cuts fares

Ryanair reported a 34% drop in first‑quarter profit to €538 million, driven by a doubling of unhedged jet‑fuel prices and a 6% fall in ticket fares. Passenger numbers rose 6% to 6.1 million, but revenue was flat at €4.4 billion as the airline cut prices to stimulate demand amid consumer hesitancy over the Iran‑Israel conflict. The carrier warned that results remain highly sensitive to further escalation in the Middle East and to the price of the 20% of fuel it has not hedged. Its shares fell around 5‑6% after the earnings release.