Ryanair CEO tells Europe to prepare for biggest airfare hike in history
Ryanair CEO Michael O'Leary said European airfares could rise 10% to 20% next year, calling it the biggest increase in history as higher jet fuel costs and fewer seats pressure fares.
1. Fare increases forecast
O'Leary said bankruptcies and takeovers would reduce the number of seats available next year, while airlines with limited fuel hedges face higher costs. He said Ryanair had 15% of next year's fuel costs hedged at $85 a barrel, with spot rates around double that level.
2. Belgium cuts and aircraft
Ryanair plans to cut 20 routes and more than a million seats from its winter schedule in Belgium after the country plans to raise its aviation tax to €7 in January from €2. O'Leary also said he was optimistic that the Boeing 737 MAX 10 would receive US certification this month, allowing Ryanair to receive 16 planes in early 2027.
