Michael O'Leary, chief executive of Ryanair, Europe's largest low-cost airline, has warned that airfares could rise significantly if oil prices remain elevated through next year, as soaring jet fuel costs put pressure on the airline industry. Speaking ahead of the company's annual general meeting, O'Leary said Ryanair expects fares in the second quarter of its financial year, which covers July to September, to fall only slightly, but the outlook for fares in the quarters covering December and March remains highly uncertain. The warning came as Brent crude continued to trade above 100 dollars a barrel, while U.S. West Texas Intermediate rose 1.4% to 97.40 dollars a barrel, amid growing concerns over escalating tensions in the Middle East and the potential impact on global energy supply. Ryanair believes fuel cost pressures could feed through into fares late this year and continue into 2027, with the direction of oil prices set to be one of the key factors shaping the outlook for ticket prices ahead.
Ryanair Holdings plcRyanair warns soaring jet fuel costs from elevated oil prices could force airfares higher and pressure its margins.
