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Ryanair warns fares will rise 'dramatically' and staff could face pay freezes with its fuel bill set to soar €2bn

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 says the airline cannot absorb a projected €2bn jump in its fuel bill and that ticket price rises of more than 10% are coming, but warns even a 20% hike would not fully cover the shortfall. The Iran war has more than doubled jet fuel to $196.70 a barrel, and Ryanair's existing low-price hedges run out after April 2027, leaving the carrier exposed.

O'Leary also savaged Andy Burnham's government as 'all talk, no action' over Labour's tourist tax and air passenger duty rises.

Irish, British, Spanish and Portuguese pilot unions have yet to sign new pay deals and face freezes if they miss an April 2027 deadline.

Post-tax profits fell 15% to €2.15bn for the six months to September, even as passenger numbers rose 6%.

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 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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