Ryanair CEO Michael O’Leary Warns Fares Could Rise up to 20% in 2027 as Fuel Bill Jumps $2.2 Billion

According to CNBC, Ryanair CEO Michael O’Leary said European airfares could rise 10% to 20% in 2027 as fuel hedges expire and higher oil costs are passed on to passengers. The airline’s fuel bill is set to jump by $2.2 billion, and Ryanair does not expect higher short-haul fares to fully offset an estimated 2-billion-euro increase in fuel charges. First-half fiscal-year profit fell 15% to 2.15 billion euros ($2.3 billion), while the price of the carrier’s 20% unhedged jet fuel doubled. Ryanair is launching a cost review that includes lowering crew rations, a potential temporary pay freeze and using AI to improve efficiencies.