Ryanair Initiates Cost Drive to Offset $2.2 Billion Jet-Fuel Surge Amid Middle East Conflict
Ryanair Holdings Plc will embark on a cost purge across its airline to help offset a €2 billion ($2.2 billion) increase in fuel charges next year, as the Middle East conflict continues to drive up oil prices and weighs on consumer willingness to book flights. The airline announced the plan on Monday after reporting a 15% drop in profit after tax for the first fiscal half of the year, stating it will review airport deals, consider lowering crew ratios, and may increase the use of artificial intelligence to bring down expenses.
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