Ryanair CEO Michael O’Leary said the airline and other European carriers had secured much of their jet fuel needs for 2026 through hedging contracts. (AFP pic)BRUSSELS: European airfares will see their "biggest increase in history" next year, Ryanair CEO Michael O'Leary said on Tuesday, with airlines largely unhedged against higher jet fuel costs.
O'Leary forecast there would be fewer seats available next year as a result of bankruptcies and takeovers among airlines, which, together with the unhedged positions, would result in fares increasing by as much as 20%.
"You're going to see airfares rise next year in Europe, I think by 10%, 15%, maybe 20%.
"You're going to see the biggest increase in airfares, I would say, in history in Europe for the next 12 months," O'Leary told a news conference in Brussels.
