AssetID: 55706558
Headline: UNCAPTIONED: Ryanair Warns Iran Conflict Could Hit Profits
Caption: Ryanair Warns Iran Conflict Could Hit Profits. Ryanair has warned investors that profits could come under pressure as fallout from the US-Iran conflict fuels economic uncertainty and higher oil prices. Europe’s largest airline by passenger numbers said ticket fares for the key summer travel season had flattened after previously expecting modest growth. Ryanair blamed concerns over fuel shortages, inflation and volatile oil markets linked to tensions around the Strait of Hormuz. The airline said uncertainty surrounding the conflict meant it was too early to provide meaningful profit guidance for the current financial year. Despite fears over jet fuel supplies, Ryanair insisted Europe remains relatively well supplied through imports from regions including West Africa, Norway and the Americas. The carrier added that its aggressive fuel hedging strategy should help shield earnings from soaring energy prices and maintain its cost advantage over rivals. Ryanair nevertheless warned that jet fuel spot prices had surged sharply and were likely to remain elevated for months. The company also revealed talks are nearly complete on a new contract for chief executive Michael O'Leary that could extend his leadership until 2032. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Ryanair,Michael O'Leary,oil prices,jet fuel,Strait of Hormuz,airline profits,aviation,travel,economy,airlines,inflation,Middle East conflict
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