Ryanair CEO pledges not to impose fuel surcharge on passengers

Ryanair's CEO Michael O'Leary has pledged to refrain from imposing a fuel surcharge on passengers despite escalating jet fuel prices. Speaking to reporters, O'Leary expressed confidence in the airline's ability to withstand further challenges arising from high fuel costs. He noted that most airlines have been hedging their fuel costs up until the summer of 2026, enabling them to absorb the impact of soaring oil prices.

However, O'Leary anticipates that rival airlines will introduce fuel surcharges next summer, leading to a potential price increase of 10% to 20% for consumers. Ryanair is actively engaging in discussions with airports due to concerns that capacity cuts triggered by additional airline bankruptcies could occur. The CEO believes that this consolidation of Europe's airline industry will result in the eventual failure of less profitable carriers, potentially reducing the industry to four major players: British Airways, Lufthansa, Air France, and Ryanair.