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Europe to See 'Biggest-Ever' Increase in Air Fares Next Year, Ryanair Chief Says
Michael O'Leary said carriers are passing on higher fuel, tax and emissions costs as weaker airlines face consolidation.
- On Tuesday, Ryanair Chief Executive Michael O'Leary warned European passengers face ticket price increases of up to 20 per cent next year due to rising jet fuel costs amid Middle East geopolitical tensions.
- Jet fuel currently trades at $140 per barrel while the phase-out of free carbon allowances under the EU Emissions Trading System adds compliance costs, leaving most airlines without fuel hedging for 2027 exposed to market volatility.
- Ryanair is cutting 20 routes and more than 1.1 million seats from its Belgian schedule this winter, with O'Leary criticizing the Belgian Government's decision to raise taxes as "anti-growth" policies contradicting The Draghi Report.
- Brussels South Charleroi Airport will lose 13 routes and 200 jobs, with the local fleet falling to 13 aircraft. In France, the airline previously cut regional capacity by 13 per cent following a 180 per cent tax increase.
- Protracted cost pressures will likely accelerate industry consolidation, pushing vulnerable carriers into insolvency. Ryanair remains positioned for profitability by hedging 80 percent of its fuel requirements at $67 per barrel while reducing its annual passenger target to 214 million.
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The increase in fuel costs could raise air fares in Europe by up to 20% next year, the CEO of Ryanair warns.
·Paço de Arcos, Portugal
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Europe is waiting next year for the largest increase in the price of airline tickets in history, announced by Director General Ryanair Michael O'Leary on Tuesday.
·Vilnius, Lithuania
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Targeting oil prices and taxes in particular, Michael O的Leary believes that price increases of up to 20% should be expected for all companies.
·Paris, France
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According to Michael O'Leary, airline tickets in Europe could be up to 20 percent more expensive in 2027. Ryanair's CEO mentioned higher kerosene costs and a lower seating offer as reasons.
·Düsseldorf, Germany
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Total News Sources192
Leaning Left18Leaning Right28Center12Last UpdatedBias Distribution48% Right
Bias Distribution
- 48% of the sources lean Right
48% Right
L 31%
C 21%
R 48%
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