Ryanair profits fall as Middle East tensions deter travellers and raise fuel costs

Irish budget airline Ryanair has reported a drop in profits, citing the impact of rising geopolitical tensions in the Middle East. Fears surrounding the Iran conflict have discouraged passengers from booking flights, reducing demand. At the same time, oil prices have climbed significantly, with Brent crude crossing the $90-per-barrel mark. The surge in crude prices has directly increased the airline's fuel costs, squeezing its margins. The combination of weakened passenger confidence and higher operating expenses has weighed on the carrier's financial performance.