Ryanair says it might freeze pay to offset high fuel prices
- On Monday, Ryanair CEO Michael Leary warned that European airfares could climb as much as 20% next year, citing the ongoing conflict in the Middle East and resulting fuel price volatility.
- Global jet fuel prices are currently hovering around $196 a barrel, rising rapidly after attacks on Iran sparked supply concerns and volatile market conditions for European carriers.
- While Ryanair has hedged 80% of fuel requirements through March 2027, the company faces a potential 33% increase in its fuel bill, or roughly EUR 2 billion, for the coming year.
- Ryanair Chief Financial Officer Neil Sorahan said the carrier is reviewing costs, including potential staff wage freezes, increased artificial intelligence usage, and negotiating lower airport charges.
- Despite potential price hikes, demand remains strong; Ryanair Chief Financial Officer Neil Sorahan noted that an additional EUR 5 or EUR 10 on fares does not necessarily discourage travel.
223 Articles
223 Articles
Ryanair has warned that flight prices in the summer of 2027 will rise significantly due to an expected surge in the cost of jet fuel. The company's chief executive, Michael O'Leary, has urged passengers to book their tickets as early as possible. "My advice to consumers next year is if you are going to travel in the summer, book now. Do it as early as possible while the fares are low. They will increase dramatically next year," O'Leary told Sky.…
Cheap flights in Europe face a fuel cost reckoning as Ryanair’s CEO says fares could rise up to 20% next year because of the Iran war
Michael O’Leary warns that European airfares could rise as much as 20% in 2027 as the Iran war drives up fuel costs and forces airlines to cut flights.
Ryanair ticket prices could soar in 2027 as fuel costs force airline to consider pay freeze
The budget airline's CEO expects fares to rise across Europe next year, warning that ticket prices could need to increase by as much as 20% to offset soaring fuel costs: Continue reading: https://dailynewshungary.com/ryanair-ticket-prices-could-soar/
Airline ticket prices in Europe could rise by up to 20 percent next year due to high fuel prices caused by the conflict in the Middle East.
Ryanair is warning of significant increases in ticket prices next summer, while it is even considering the possibility of a temporary freeze on employee wages. According to Ryanair, its fuel costs are expected to increase by 2 billion euros in the short term, while the company's CEO, Michael O'Leary, said that ticket prices would have to increase by a "double-digit percentage" in order to cover some of the additional costs. However, the company …
Airfare prices are soaring, and one airline says the worst may be yet to come
Flying around Europe could get considerably more expensive next year, even on budget airlines. Ryanair, Europe’s largest airline by passenger numbers, is warning that airfares could rise by as much as 20% in 2027 as soaring fuel prices put pressure on the carrier’s bottom line. And higher ticket prices might not be enough to cover the difference. The Irish budget airline said Monday that it is considering temporary employee pay freezes, reduced …
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