European airfares to rise up to 20% in 2027 due to soaring jet fuel costs, says Ryanair CEO

Ryanair's CEO Michael O'Leary warned that European airline ticket prices could increase by 10% to 20% in 2027 as jet fuel prices soar, with oil currently at $170 a barrel. The airline's profit dropped 15% in the first half of the fiscal year due to a doubling in the cost of unhedged jet fuel. Ryanair expects that fare increases alone won't cover the estimated 2 billion euro rise in fuel expenses and plans to cut costs through measures like reducing crew rations, possibly freezing pay temporarily, and using AI for efficiency improvements. This signals significant cost pressures for airlines and higher travel costs for passengers next year.

Ryanair's stock is up 2.70% today, trading at USD 53.72 on Pluang. This reflects investor attention to the airline's cost pressures and fare hike warnings as of Nov 02, 2026 14:51 WIB.