European airfares will jump next year, Ryanair CEO warns
Ticket prices could jump as much as 20%, Ryanair’s Michael O’Leary predicted.
European airfares are set to experience their "biggest increase in history" next year, according to Ryanair's CEO Michael O'Leary. The global fuel squeeze is putting pressure on the commercial aviation industry, which has so far weathered supply shocks well. O'Leary predicts ticket prices could rise by up to 20%, with industry consolidation leading to fewer seats overall.
Despite the rising costs, tourism has managed to hold up, partly due to airlines securing their 2026 fuel supplies at a fixed price. However, airlines are expected to become less hedged in the future, leading to further price increases. The timing of these hikes is particularly unfortunate for European holidaymakers, as they are expected to face extreme temperatures due to a historic El Niño.
Brief written by urgent.news from Semafor's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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