Ryanair has hedged 80% of its fuel needs in 2023

Ryanair chief executive Michael O'Leary

Ryanair boss Michael O'Leary said the airline has hedged 80% of its 2023 fuel needs and 10% for 2024, and would likely be profitable in the coming year, even if the outlook was worse than anticipated but that it would be significantly behind pre-pandemic levels.

MrO'Leary said it was impossible to give detailed guidance beyond hoping to return to "reasonable profitability" this year amid uncertainties over Covid-19 and the Ukraine war.