Ryanair Cuts Winter Capacity and Warns Rivals Face Survival Test

Ryanair cut its FY27 traffic target by 2 million to 214 million passengers, mainly reducing winter flights to avoid unhedged high fuel prices. Summer demand remains strong with August traffic up 6% to 22.2 million, but margins are under pressure. CEO O'Leary believes weaker-hedged rivals may be forced to cut capacity or exit, while Ryanair builds cost advantages via Boeing 737 Max 10 and in-house engine maintenance.