The Newshound

Ryanair staff face possible pay freezes as Michael O'Leary warns fares will 'rise dramatically' over a €2bn fuel bill

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 chief executive Michael O'Leary blamed the US-Iran war for a doubling of jet fuel prices to $196.70 a barrel, warning the airline faces a €2bn surge in its fuel bill for the year to March 2028. Profits fell 15% to €2.15bn for the six months to September, and O'Leary said a 20% fare rise would be needed to cover costs fully — but admitted the market would not bear it, predicting rises of over 10%.

Irish, British, Spanish and Portuguese pilot and cabin-crew unions have yet to sign new pay deals and now risk salary freezes from April 2027 if they fail to reach agreement.

O'Leary savaged Labour's budget, calling the Burnham government an 'all-talk, no-action' administration and blasting rises in air passenger duty and a new tourist tax as counter-productive.

Ryanair is also reviewing AI use to cut back-office costs, and O'Leary urged passengers to 'book now' for summer 2027 while fares are still low.

MoreThe IndependentRyanair to review pay freezes and AI use to counter jet fuel price surgeDaily MailRyanair urges booking now for 2027 - and may consider staff pay freezeThe IndependentGas prices once again set to hit a record high from Trump's Iran warIrish 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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