Ryanair boss says higher fuel costs may require pay freezes and more AI, as profits dip

THE CHIEF EXECUTIVE of Ryanair Michael O’Leary has said the company will have to consider temporary pay freezes and other measures, as its profits dipped slightly.

The company reported profits of €2.15 billion in the first half of this year, down 15% on the same six-month period last year.

It said rising jet fuel costs and low fares have been the main drivers in a dip in profits. 

O’Leary said in a statement that increasing fares will likely not be enough to make up for a higher fuel bill.

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He said that unless there’s a swift resolution to the conflict in the Middle East, which is affecting fuel prices, then the company may have to freeze pay increases.

Among other considerations is lowering crewing ratios.

O’Leary said using artificial intelligence for some operational and back-office/support roles would also help lower costs.

In the first six months of 2026, the number of passengers carried by Ryanair increased by 6% to 125.8 million.

The average fare fell by 4%.