Ryanair is cutting summer air fares to woo wary consumers, it said after posting record annual profit, adding that the risk of jet fuel shortages has all but disappeared.

Europe’s largest airline by passenger numbers reported a slightly better than expected 40 per cent jump in full-year profit on Monday but downgraded its forecasts on fare income owing to consumer concerns over the broader impact of the Iran war.

“There is a little bit of customer nervousness out there,” chief executive Michael O’Leary told analysts on a conference call. “We’re having to do a little bit of price discounting to keep the volumes going.”

Ryanair forecast a mid-single-digit percentage fall in average fares year on year in the April-June quarter and broadly flat for July to September.

But that forecast is conservative, O’Leary said, adding that he expects a “reasonable surge” once the war ends.

O’Leary said that the risk of a jet fuel shortage forcing cancellation of flights in Europe this summer had dropped to “almost zero” thanks to production increases by refiners after securing alternatives to Gulf crude.

If the war does drag on, however, Ryanair would be squeezed by both weaker demand and higher costs, potentially leading to a dip in profitability.

The airline has hedged 80 per cent of its jet-fuel requirements for the year to the end of next March at $67 a barrel, less than half the current spot price. However, costs per passenger could still rise by a mid-single-digit percentage if fuel prices remain at current elevated levels.

Ryanair shares fell by 3 per cent after the results were released, but they recovered to a gain of 5.5 per cent by 1318 GMT after slightly more optimistic commentary on the analyst call.

The budget carrier has almost concluded negotiations on an extension to O’Leary’s contract to 2032, including a 10 million share-option agreement, subject to performance targets. A previous share option scheme is set to earn O’Leary as much as 100 million euros ($116.5m).

O’Leary, 65, did not directly answer an analyst who asked if the extension would be his last.

Ryanair’s full-year post-tax profit of 2.26 billion euros was slightly better than a forecast of EUR2.2bn in a company poll of analysts.

That excluded an 85 million euro provision related to a fine from the Italian competition authority, which Ryanair expects to be overturned on appeal.

Emirates has broken ground on its new $5.1bn engineering complex at Dubai South, a major aviation infrastructure project set to become the world’s most modern and advanced maintenance, repair and overhaul (MRO) facility.

The project is expected to further strengthen Emirates’ and Dubai’s position in global aviation capability and infrastructure, while expanding the airline’s engineering and maintenance capacity for future growth.

The new engineering facility is being delivered by China Railway Construction Corporation, a leading construction and infrastructure development company, with Artelia appointed as project consultant.

The groundbreaking ceremony was held in the presence of HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group; Sir Tim Clark, president Emirates Airline; HE Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South; and Dai Hegen, chairman, China Railway Construction Corporation Limited.

HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group, said: “Today’s groundbreaking for the $5.1bn engineering facility is a strategic step forward in Dubai’s future-focused aviation ambitions. The new facility strengthens Emirates Engineering’s vertical integration strategy by bringing more skills, infrastructure, parts production, and specialist capabilities under one roof, while positioning the airline to serve as a strategic engineering partner for the future requirements of the regional and global aviation industry. This latest investment also aligns directly with Dubai Economic Agenda D33, reinforcing Dubai’s position as a global economic hub and centre of aviation excellence, and lays the foundations for the next chapter of growth for Dubai, the UAE and the wider MRO industry.”

HE Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South, said: “At Dubai South, our mandate is aligned with the vision of our wise leadership to further strengthen Dubai’s position as the aviation capital of the world through the development of an integrated ecosystem that supports the future needs of the global aviation sector. The groundbreaking of this world-class facility marks another milestone in advancing the aviation infrastructure surrounding Al Maktoum International Airport, which is set to become the largest once completed. This project will play a key role in enhancing Dubai’s capabilities to cater to the growing demand for advanced aviation services and maintenance solutions, while reinforcing the emirate’s position as a global benchmark for aviation excellence, innovation, and long-term industry growth.”

Dai Hegen, chairman, China Railway Construction Corporation Limited, said: “As an important milestone reflecting the good-neighbourly friendship and practical cooperation between China and the UAE, this project fully aligns with the consensus reached by the two heads of state and Dubai’s economic development vision, and demonstrates Emirates’ high recognition of CRCC’s comprehensive strength and brand reputation. As the main contractor, we will uphold our core values, mobilize premium resources and assemble a professional team to deliver high-standard construction, efficient progress and quality results, striving to build a model project for China-UAE cooperation and contribute our full strength to deepening bilateral economic and trade ties and building a China-UAE community with a shared future.”

The new Emirates Engineering facility at Dubai South will span 1.1 million square metres, making it one of the largest buildings in the world by volume and the largest steel structure in the GCC.

The facility will also feature the world’s only hangar complex with the capacity to simultaneously service 28 wide-body aircraft, alongside two painting hangars.

Key features of the mega-facility include the largest free-span hangar in the world, with a width of 285 metres, and the largest dedicated landing gear workshop in the world.

The complex will also include 77,000 square metres of dedicated workshop space for repairs and maintenance, as well as 380,000 square metres of storage and logistics capacity.

In addition, the facility will feature two state-of-the-art paint hangars to service Emirates’ fleet of wide-body aircraft, with extended capacity to also handle narrow-body aircraft.

The technical facilities will be supported by a dedicated administrative building for Emirates Engineering, providing 50,000 square metres of office space and 15,000 square metres of training facilities. A gateway facility will also be developed to control airside access.

Emirates said the new engineering complex is expected to set new sustainability benchmarks, with all project facilities targeting a Leadership in Energy and Environmental Design (LEED) Platinum rating. Solar panels will also be installed on roofs across the complex, alongside other sustainability initiatives.

Construction of the facility is expected to be completed by the middle of 2030. The hangar complex will initially start servicing aircraft requiring heavy maintenance, as well as spillover projects from the Emirates Engineering Centre at Dubai International Airport.

Careem has launched a new feature called Far-Away Gems, expanding its food delivery radius across the UAE and enabling customers to order from restaurants previously considered outside standard delivery zones.

The company said the feature more than doubles its existing delivery range, making Careem the first food delivery platform in the UAE to offer access to restaurants located significantly beyond customers’ immediate neighbourhoods.

Initially available in Dubai and Abu Dhabi, the Far-Away Gems collection includes more than 600 hand-picked restaurants selected based on popularity, customer ratings and strong local reputations. The initiative is designed to respond to growing customer demand for well-known local eateries that are often recommended through word of mouth but historically inaccessible through delivery platforms due to distance limitations.

According to Careem, the feature aims to spotlight neighbourhood institutions and independent restaurants that have built loyal followings over the years but lack the widespread footprint of larger restaurant chains.

Among the featured restaurants are Al Ustad Special Kabab, known for its longstanding presence in the UAE dining scene; Pechka, which specialises in Eastern European comfort food; Aqaya, a specialty coffee and bakery concept; Café De Paris; and Al Sultan Restaurant & Grills.

Restaurant partners said the initiative is helping local brands expand visibility and reach new customer segments beyond their traditional delivery radius.

“We built this restaurant on loyalty and word of mouth. Careem’s Far-Away Gems is the modern version of that. A recommendation that reaches further than we ever could on our own,” said Abbas Ansari, Al Ustad Special Kabab.

Nourhan Farhat, VP of Marketplace Businesses at Careem, added: “The UAE is home to some truly extraordinary restaurants that have built loyal followings over years, sometimes decades. People search for them, recommend them, and make the trip across the city just to eat there. But for most customers, ordering from them has never been an option. Far-Away Gems changes that. It is our way of making sure that where you live is never the reason you miss out on a great meal.”

The launch reflects increasing competition within the UAE’s food delivery sector, where platforms are investing in logistics capabilities, customer experience enhancements and differentiated offerings to capture consumer demand.

Far-Away Gems is now accessible through the Food section of the Careem app for users in Dubai and Abu Dhabi.

Dubai Taxi Company, the mobility provider in Dubai, and its strategic partner Bolt have announced the launch of Bolt’s ride-hailing services in Abu Dhabi. The move marks a significant expansion of the partnership across the UAE and strengthens their shared push into the country’s fast-growing digital transport sector.

The expansion comes amid sustained growth in e-hailing demand across the DTC–Bolt partnership. In 2025, DTC recorded a 24 per cent year-on-year increase in e-hailing activity across its taxi and limousine segments, supported by fleet growth and increasing adoption of app-based booking channels.

Read more-Bolt launches dedicated school rides across Dubai

Momentum continued into 2026, with e-hailing activity rising a further 9 per cent year-on-year in Q1, highlighting strong and sustained demand for digital mobility services.

Limousine-first rollout, followed by taxi services

Bolt will initially launch its operations in Abu Dhabi with limousine services, giving customers access to ride-hailing through a large network of fleet owners, drivers, and vehicles. Taxi services are expected to follow in the coming weeks as the rollout expands.

The expansion also builds on progress in Dubai, where Q1 2026 saw the integration of 1,823 National Taxi vehicles into the Bolt platform, further broadening its footprint in the UAE and strengthening its role in the evolving mobility ecosystem.

Leadership highlights strong demand for app-based mobility

Vasilis Hadjiaslanis, general manager of Bolt UAE, said:

“Abu Dhabi is a natural next step for Bolt in the UAE. We have seen exceptional demand for reliable, app-based mobility, and this milestone gives residents and visitors in the capital access to a service that is fast, convenient, and built around their needs. We are proud to be on this journey alongside our partners at DTC, and we look forward to continuing to grow our presence across the UAE.”

Driven by rising demand, the expansion reinforces DTC’s commitment to delivering more accessible mobility solutions for residents, visitors, and businesses nationwide. It also aligns with the UAE’s broader shift toward smart mobility and digitally enabled transport systems, as both companies continue scaling their services across major cities.

The UAE has announced the official Eid Al Adha holiday period for both private and public sector employees, with authorities confirming coordinated breaks across ministries, schools and private sector organisations.

The announcement sets out extended leave dates tied to Arafat Day and Eid Al Adha, creating a nationwide holiday period later this month.

The Ministry of Human Resources and Emiratisation (MoHRE) confirmed that private sector employees will receive a paid holiday from May 26 to May 29, 2026, in observance of Arafat Day and Eid Al Adha. The ministry said the decision aligns with the UAE Cabinet resolution on official public holidays.

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According to the UAE Government Media Office, citing the Federal Authority for Government Human Resources (FAHR), federal ministries and entities will close from Monday, May 25, 2026, to Friday, May 29, 2026, with official working hours resuming on Monday, June 1.

The Knowledge and Human Development Authority (KHDA) in Dubai announced matching holiday dates for private schools, confirming closure from May 25 to May 29, with classes resuming on June 1. The alignment ensures consistency across the education sector during the national holiday period.

The synchronised holiday schedule is expected to drive a seasonal uplift in travel, retail, hospitality and leisure sectors, as residents take advantage of the extended break for regional trips and family gatherings. The unified timing also supports the UAE’s broader efforts to standardise public holiday frameworks and align academic and government calendars nationwide.

Eid Al Adha is one of the most significant occasions in the Islamic calendar, marked across the UAE with communal prayers, family gatherings, charitable giving and increased domestic and international travel activity. Authorities say the coordinated break reflects ongoing efforts to enhance work-life balance and ensure alignment across public and private sectors during major religious observances.

The extended holiday is also expected to boost outbound tourism demand from UAE residents traveling across the GCC and beyond, with airlines, hotels and hospitality providers preparing for higher occupancy rates during the break. This seasonal surge typically contributes to one of the busiest travel periods of the year in the region.