Ryanair Warns of Record Airfare Hikes
Ryanair CEO Michael OLeary warns European airfares could jump up to 20 percent next year due to rising jet fuel costs and limited hedging. The airline is also cutting routes in Belgium following planned aviation tax increases.
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RYANAIR HOLDINGS PLC-SP ADR CEO Michael O'Leary warned Tuesday morning that European airfares will jump up to 20% over the next 12 months. The surge follows soaring jet fuel costs driven by the conflict in Iran. Most carriers lack fuel hedges for next year, threatening historic margin compression across the continent.
