Ryanair (RYAIF) Reports 40% Profit Increase Amid Jet Fuel Concerns

Ryanair (RYAIF) reported a 40% increase in profit after tax to nearly €2.3 billion ($2.7 billion) for the year ending in March, despite a revenue drop of 11% to €15.54 billion. The airline's full schedule for summer and winter remains on track, yet it warns that weaker European carriers may face difficulties due to high jet fuel prices. Ryanair has hedged 80% of its summer fuel at $668 per metric ton. Shares dropped 2.7% in early trading, marking a 27.5% decrease year-to-date amid ongoing economic uncertainty in the aviation sector.