{
  "id": 15732014,
  "title": "Europe to see 'biggest-ever' increase in air fares next year, Ryanair chief says",
  "url": "https://urgent.news/2026/10/20/europe-to-see-biggest-ever-increase-in-air-fares-next-year-ryanair",
  "topic": "world",
  "section": "World",
  "published": "2026-10-20T10:17:30.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/business/aviation/2026/10/20/europe-to-see-biggest-ever-increase-in-air-fares-next-year-ryanair-chief-says/"
  },
  "original_language": "en",
  "account": "Ryanair’s CEO Michael O’Leary predicts a historic surge in European airfare prices next year, attributing the rise to escalating oil costs driven by the ongoing Middle East conflict. Speaking at a Brussels news conference, O’Leary projected ticket prices could climb by up to 20%, warning that the industry may struggle to absorb the higher fuel expenses. \"You’re going to see the biggest increase in airfares, I would say in history, in Europe in the next 12 months,\" he stated, emphasizing that the jump in fuel surcharges may not suffice to offset the soaring oil bill. O’Leary, whose airline is Europe’s leading budget carrier, highlighted that most European airlines, including Ryanair, lack sufficient hedging strategies to mitigate the impact of higher oil prices. Furthermore, the market is grappling with reduced capacity as some airlines falter, while increased taxes exacerbate the industry’s challenges. Ryanair’s share price experienced a sharp decline of up to 2.1%, totaling a 25% drop for the year, which would mark the worst annual stock performance since 2018. In response to higher taxes in nations like France and Belgium, Ryanair plans to reduce its presence in these markets. O’Leary also criticized regulatory measures in these regions, vowing to consolidate the European aviation sector as weaker airlines grapple with the escalating costs. Recent restructuring efforts, such as Air Baltic and Spain’s Volotea, reflect the far-reaching effects of these economic pressures. Deutsche Lufthansa recently secured a stake in Portugal’s TAP, while U.S. private equity firm Apollo Global Management is eyeing a potential acquisition of EasyJet. The soaring jet fuel costs, stemming from the Iran war that commenced in late February, have adversely affected airlines globally. Ryanair disclosed in its July earnings report that the conflict negatively impacted its profits and led to reservations due to concerns over fuel supply availability. O’Leary disclosed his intention to receive the first delivery of the carrier’s Boeing Max 10 aircraft in January, with an additional 16 units expected by April.",
  "summary": "(Bloomberg) -- Ryanair Holdings Plc Chief Executive Officer Michael O’Leary predicted a record increase in European air fares next year as the Middle East war continues to drive up oil prices, forcing airlines to pass on their fuel costs to consumers.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "title": "Europe faces record air fare surge in 2027 as war drives up fuel costs, Ryanair boss warns",
        "url": "https://urgent.news/2026/10/20/europe-faces-record-air-fare-surge-in-2027-as-war-drives-up-fuel",
        "published": "2026-10-20T08:58:54.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}