Ryanair Holdings warned that pricing for its summer quarter will slip, projecting fares for the June‑ending period to run a mid‑single‑digit percentage below a year earlier. The Irish carrier said recent bookings are arriving later than in 2023, and fare pressure stems from higher oil prices and concerns over fuel shortages. It had previously expected low single‑digit fare gains for the season overall.

Looking ahead to the fiscal year ending March 2027, Ryanair said it cannot issue profit guidance because demand visibility remains limited and fuel price volatility persists. The airline still continues to forecast total traffic to rise 4% to 216 million passengers. A flat‑priced September quarter and modest fare erosion suggest significant margin pressure could linger through the peak summer months.

Investors should weigh the weaker pricing outlook against the carrier’s capacity to fill seats as travel demand stabilises. With fuel costs and booking timelines adding uncertainty, Ryanair’s ability to convert traffic growth into earnings will hinge on how quickly it can restore fare discipline. The airline’s next quarterly report will reveal whether the modest traffic boost offsets price softness.