European air fares could rise by as much as 20% in 2027, Ryanair boss predicts
Source: The Guardian ·
Conflict in Middle East is pushing jet fuel costs higher and many carriers are not hedged against such increases, Michael O’Leary saysRyanair’s chief executive has predicted a record increase in European air fares next year, as airlines grapple with fuel bills pushed higher by the Middle East conflict.Many carriers are not hedged against rising jet fuel costs, Michael O’Leary said, which he…
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Ryanair’s chief executive has predicted a record increase in European air fares next year, as airlines grapple with fuel bills pushed higher by the Middle East conflict. Many carriers are not hedged against rising jet fuel costs, Michael O’Leary said, which he predicted would lead to airline bankruptcies and takeovers. He forecast these pressures would result in the price of plane tickets rising by as much as 20%. “You’re going to see air fares rise next year in Europe, I think by 10, 15, maybe 20%. You’re going to see the biggest increase in air fares, I would say, in history in Europe for the next 12 months,” O’Leary told a news conference in Brussels. Jet fuel prices have soared in recent months, as the war on Iran has choked off fuel supplies. Jet fuel accounts for a large portion of carriers’ costs. The airlines body IATA previously predicted jet fuel prices would be 70% higher across 2026 – estimated to average $152 (£114) a barrel for the year, compared with $90 in 2025 –…