BUCKLE UP, BARGAIN HUNTERS! Ryanair says airfares will be “materially higher” next summer and it is considering a temporary wage freeze for staff, blaming fuel costs driven up by the US-Israel war with Iran, the BBC reported.
The airline forecasts its fuel bill will be €2bn (£1.6bn) higher in the short term. Pre-tax profits fell 16% to €2.4bn in the six months to the end of September, with fuel costs up 15%, even though 80% of its fuel was hedged.
Boss Michael O’Leary said fares need to rise by “double-digits.” “I’m not sure we’ll get to 20%,” he said. “But we’re certainly looking at double-digit fare increases across Europe from all airlines in 2027.”
The pay freeze could start from April as multi-year union deals end. Unite’s Oliver Richardson said the union “hasn’t been advised of any such proposals” and expects its existing deal, which covers next year, to be honoured.
Ryanair also says it will slow hiring, use more AI in back-office work, and keep cutting winter flights, with short-haul capacity “constrained out to the early 2030s.”
Featured image: AI-generated editorial illustration by Bugle Blast.
Sources: BBC News
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