![\"Ryanair\"](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2025\/07\/Ryanair-company-website.png\")
Ryanair chief executive Michael O\u2019Leary has warned that higher fares may not be enough to offset high fuel prices sparked by the US-Iran war.<\/p>\n
Soaring costs over the first half to the end of September saw profits at the Irish airline fall 15% to \u20ac2.15 billion, from \u20ac2.54bn during the same period last year.<\/p>\n
Ryanair is facing a projected \u20ac2bn increase in fuel bills in its next financial year and may have to impose pay freezes and other labour-related cuts, including increased use of artificial intelligence in back-office and support, said Mr O\u2019Leary.<\/p>\n
\u201cUnless there is a swift resolution of the Middle East conflict, we expect jet-fuel prices to remain elevated well into 2027,\u201d he said.<\/p>\n
Ryanair has hedged 80 per cent of its fuel at $67 a-barrel up to 31 March, but a doubling in the cost of the unhedged 20%contributed to a 10% increase in costs over the six months to 30 September.<\/p>\n
Revenue rose 3% during the six month period, but average fares fell by 4% to \u20ac57.50.<\/p>\n
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EWIT hires directors<\/strong><\/p>\n Edinburgh Worldwide Investment Trust has appointed Paul Fincham and Nick Stewart as independent non-executive directors.<\/p>\n Both are independent under the Association of Investment Companies\u2019 code and will join the audit and management engagement committee as well as the nomination committee. <\/p>\n Mr Fincham brings corporate finance and closed-ended fund launch\/reconstruction experience and Mr Stewart brings more than 25 years in financial services, governance, risk management and capital-allocation advisory.<\/p>\n \t <\/div>\n