Flights to European destinations are expected to become more expensive in 2027. Ryanair has warned that ticket prices could rise by double digits, by as much as 20% in some cases, because of higher fuel costs following the escalation of the conflict in the Middle East.
Ryanair chief executive Michael O’Leary said higher fuel costs are weighing on the aviation industry. He expects airlines across Europe to raise fares.
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O’Leary said Ryanair may have to increase ticket prices by up to 20% to cover the additional costs. He warned that fuel could remain expensive into 2027 if the conflict is not resolved quickly.
According to the company’s estimates, fuel costs could rise by around 2 billion euros in the short term. Ryanair has secured 80% of its fuel needs through fixed-price contracts, but the remainder has been affected by the sharp rise in market prices.
To manage these costs, the company is considering a temporary pay freeze for employees, which could begin in April next year. Its plans also include slowing hiring and making wider use of artificial intelligence in administrative departments.
The potential pay freeze has drawn a response from the Unite union. Its representative, Oliver Richardson, said the union had not been informed of the proposal and noted that the multiyear pay agreement also covers next year.
Ryanair also reported that pre-tax profits fell 16% to 2.4 billion euros for the six months to the end of September. The company cited a 15% increase in fuel costs among the main reasons.
