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European Airfares Could Rise 20% Next Year Says Ryanair CEO
European air passengers could face a sharp rise in ticket prices next year, with Ryanair chief executive Michael O'Leary warning of increases of up to 20% across the continent by 2027.
Speaking at a press conference in Brussels on 20 October, O'Leary described what he believes will be the largest airfare increase in European history over the next 12 months. The primary driver is jet fuel. Prices in Europe averaged $207.61 a barrel in the week ending 16 October, up nearly 128% from a year earlier, according to the International Air Transport Association.
O'Leary noted that whilst many airlines, including Ryanair, had locked in fuel costs through 2026, those protections largely expire from April 2027, leaving carriers 85% unhedged. He confirmed Ryanair had secured fuel at around $67 a barrel this year, but expects that figure to double in 2027. The continued disruption caused by the Iran war and the effective closure of the Strait of Hormuz has kept oil prices elevated, with Brent crude trading at $109.86 on Wednesday.
O'Leary also pointed to a reduction in available seats across Europe due to airline bankruptcies and consolidation, which he argues will further push fares upward. Environmental levies on airlines, he added, are compounding the cost pressure. Separately, Ryanair announced it is cutting 20 routes and 1.1 million seats from its Belgian winter schedule, citing a planned increase in Belgium's aviation tax from 2 euros to 7 euros in January 2027.
Six aircraft are being relocated to lower-cost markets elsewhere in Europe. Is a 20% rise in airfares something you think European travellers are prepared for?
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