Ryanair’s shares have fallen 7% this week after weaker fares pushed the carrier below profit forecasts, dragging its year‑to‑date performance down almost a fifth.

The downturn mirrors that of rivals like Wizz Air, while EasyJet has also cut prices to boost demand. In contrast, full‑service groups such as IAG and Air France‑KLM have seen their stocks rise as premium long‑haul travel remains more resilient than the low‑cost model.

Fuel costs, a larger share of the cost base for no‑frills carriers, have squeezed margins, whereas flag carriers can offset rises with higher‑margin premium products. Financial hedges have so far protected many airlines, but the protection will erode as the year progresses.

With winter on the horizon, Ryanair’s strong balance sheet may let it absorb losses that would cripple debt‑heavy rivals like Wizz Air, positioning the carrier to capture market share as competitors retrench.