Increases in the oil price or further falls in fares could force Ryanair to add to the 1 percent cut in capacity announced alongside a profit warning on Oct. 1.
"If oil remains at or above $85 a barrel and fares are under pressure then it would probably be the sensible thing to do to take a look at capacity," Chief Financial Officer Neil Sorohan said.
Ryanair, which makes most of its profit in the summer, reported a profit of 1.2 billion euros ($1.38 billion) in the six months to Sept. 30. It reiterated its full-year profit forecast of between 1.1 billion euros and 1.2 billion euros.
That would be a 17-24 percent fall from the record 1.45 billion euro post-tax profit in its most recent financial year.
A poll of more than 10 analysts by Ryanair before the results found an average forecast of 1.127 billion euros for the full year and 1.175 billion for the six months to Sept. 30. ($1 = 0.8685 euros)
