Aviation: Ryanair launches savings program against kerosene shock
Europe's largest low-cost airline wants to compensate for the additional fuel costs in the coming year through austerity measures. Now airport contracts and salaries are under scrutiny.
Ryanair plans to drastically cut costs across the company to offset a predicted €2 billion increase in fuel costs next year. The airline's finance chief, Neil Sorahan, stated that all areas are under review, including possible salary freezes and reductions in crew numbers. The company reported a 15% drop in after-tax profit for the first half of the year, citing decreased ticket prices due to customer uncertainty caused by global conflicts. Ryanair expects high oil prices to persist for the next 12 months, necessitating cost reductions.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
