European airfares could rise 20 percent in 2027, Ryanair chief warns

European airfares could increase by up to 20 percent next year as airlines face rising fuel bills, according to statements by Ryanair chief executive Michael O'Leary reported by The Guardian, the Irish Times, and Travel Daily News International. The Guardian and the Irish Times reported that conflict in the Middle East is driving up jet fuel costs across the region. [1][5][8]

The Guardian reported that O'Leary predicted a record increase in ticket prices for European travelers. Many airlines have not hedged against rising jet fuel prices, which O'Leary said could lead to airline bankruptcies and takeovers across the industry, according to the Guardian. [1]

In addition to higher fares, Ryanair is cutting 20 routes to and from Belgium, according to reports by Cyprus Inform, The Brussels Times, and UA.NEWS. UA.NEWS reported that the cuts in Belgium will remove more than one million seats. [2][3][4][6]

Ryanair is an Irish ultra low cost airline based in Swords, County Dublin, and is the largest airline in Europe by scheduled passengers carried. As FTMQ News reported earlier, O'Leary stated earlier this month that Europe faces no jet fuel shortages through summer 2027, though high fuel prices are expected to continue for 12 to 18 months. [13][16]