Ryanair's first-half profit after tax declined 15%. Profit reached €2.15 billion. Passenger numbers increased 6%. The airline carried 125.8 million passengers.
A surge in fuel costs drove the profit decrease. The price for unhedged fuel doubled. Average fares dropped 4%.
Total revenue increased 3%. Revenue reached €10.08 billion. Growth in traffic supported this increase. Ancillary revenue rose 6%. Operating costs jumped 10%. Fuel expenses largely drove this increase. This squeezed profit margins.
Ryanair trimmed its full-year traffic forecast slightly. The company announced a new €800 million share buyback program.