Ryanair has reduced its passenger target for the year ending 31 March from 216 million to 214 million while reporting that jet fuel trades at $140 per barrel. The airline, which hedged 80 percent of its fuel needs at $67 per barrel, expects flat passenger volumes from November to March and projects material fare increases by summer 2027 if high oil prices persist. Summer traffic is still forecast to rise more than 5 percent.