‘You’re going to see the biggest increase in airfares in history in Europe for the next 12 months’ - Ryanair’s Michael O’Leary

Ryanair CEO Michael O'Leary announced on Tuesday that European airfares are expected to experience their largest historical increase over the next 12 months. The projected price hikes are primarily attributed to rising jet fuel costs impacting the aviation industry across the region.

Reports regarding the financial preparedness of airlines for these costs remain contradictory. While some accounts indicate that carriers are largely unhedged against fuel price volatility, others suggest that Ryanair and various European airlines have already secured a significant portion of their fuel requirements through hedging contracts for 2026.