Business & Finance
Ryanair considers pay freezes, fewer crew as fuel costs climb
Chief executive O'Leary says European fares could rise as much as 20% next year as hedges expire.
The short version
- Ryanair is considering pay freezes, fewer crew on flights and more AI use to offset soaring fuel costs.[The Guardian]
- Chief executive Michael O'Leary said European airfares could rise by as much as 20% next year as fuel hedges expire.[CNBC]
- Ryanair forecasts its jet fuel costs to rise by about €2bn in the year ending March 2028, with 80% of fuel hedged at $67 a barrel until March.[The Guardian]
- The cost measures are under consideration and not confirmed, and the fare rise is the chief executive's forecast.[CNBC · The Guardian]
Key facts
- Ryanair is considering pay freezes, fewer crew on flights and more AI use to offset fuel costs driven by the Middle East conflict.[The Guardian]
- O'Leary said European airfares are set to rise by as much as 20% next year as fuel hedges expire.[CNBC]
- Ryanair forecasts its jet fuel costs to rise by about €2bn in the financial year ending March 2028.[The Guardian]
- Ryanair had 80% of its fuel requirements until the end of March hedged at $67 a barrel.[The Guardian]
- Ryanair's fuel requirements for the following 12 months are 25% hedged at $95 a barrel.[The Guardian]
What remains uncertain
- The pay freeze, crew reduction and AI measures are under consideration and have not been confirmed as adopted.[The Guardian]
- The 20% fare increase is the chief executive's attributed forecast, not a confirmed outcome.[CNBC]
- The fuel bill increase is a forecast for the financial year ending March 2028, not a reported result.[The Guardian]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.