CEO announced at a press conference on Tuesday that European airfares could surge by 10, 15, or even 20 percent in 2027. The airline executive attributed this sharp projected increase to rising fuel costs and market shifts.
The price hike follows rising kerosene costs linked to conflict involving . While Ryanair hedged 80 percent of fuel at $65 per barrel through March 2027, only 15 percent is hedged at $85 for the following fiscal year as global energy market prices climb.
O'Leary expects fewer seats across Europe due to airline bankruptcies and takeovers. Locally, Ryanair is cutting 20 routes and one million seats in for winter, as the national flight tax is set to rise from two to seven euros starting in January.