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Ryanair boss tells holidaymakers to book now before fares rise dramatically as staff face possible pay freezes over fuel costs

Ryanair hedged 80 per cent of its fuel at €67 a barrel until March 2027, but the unhedged 20 per cent contributed to a ten per cent rise in costs.
Ryanair hedged 80 per cent of its fuel at €67 a barrel until March 2027, but the unhedged 20 per cent contributed to a ten per cent rise in costs.

Ryanair has warned that European short-haul fares could rise by more than 10 per cent next year after jet fuel prices more than doubled to $196.70 a barrel because of the US-Iran war, leaving the airline facing an estimated €2 billion increase in its annual fuel bill. Chief executive Michael O'Leary urged passengers to book summer 2027 flights immediately while prices remain low. The airline posted a 15 per cent fall in post-tax profits to €2.15 billion for the six months to September.

O'Leary blasted the Labour government as 'all-talk, no action', accusing it of raising taxes on the aviation industry.

Irish, British, Spanish and Portuguese pilot and cabin crew unions have yet to sign new pay deals and face possible salary freezes if they fail to agree terms before April 2027.

O'Leary said a full offset of the fuel cost surge would require a 20 per cent fare rise — but added: 'I don't think the market will bear that.'

MoreEvening StandardRyanair to review pay freezes and AI use to counter jet fuel price surgeDaily MailRyanair urges booking now for 2027 - and may consider staff pay freezeIrish IndependentHigher airfares and risk of strikes next year, but Ryanair will never waste a crisisIrish TimesO’Leary commits to Ryanair expansion in Dublin next year but says air fares will riseGB NewsRyanair workers face pay freeze as Michael O’Leary hits out at Labour BudgetIrish TimesRyanair and pilots differ on pay, and pension top ups
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