Ryanair and airBaltic cut flights amid rising fuel costs

Rising fuel prices are forcing European airlines to adjust their operations. Ryanair has announced plans to cancel thousands of flights during the upcoming winter season to mitigate seasonal losses, which could range between 70 million and 100 million euros. The airline has also lowered its passenger transport outlook for the fiscal year ending in March 2027.

Similarly, the Latvian carrier airBaltic is facing financial pressures and intends to reduce its fleet by one-third. This restructuring includes the cancellation of dozens of routes, such as the connection between Prague and Vilnius.

Ryanair CEO Michael O'Leary noted that future decisions depend heavily on oil price stability over the next several months. Current market volatility is driven by concerns regarding Middle East tensions, with Brent crude oil prices recently trading above $100 per barrel.