{"id":633887,"date":"2026-09-23T22:20:17","date_gmt":"2026-09-23T22:20:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/633887\/"},"modified":"2026-09-23T22:20:17","modified_gmt":"2026-09-23T22:20:17","slug":"michael-oleary-says-he-has-no-doubt-air-fares-will-increase-next-year","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/633887\/","title":{"rendered":"Michael O&#8217;Leary says he has &#8216;no doubt&#8217; air fares will increase next year"},"content":{"rendered":"<p>RYANAIR BOSS MICHAEL O\u2019Leary said he has \u201cno doubt\u201d air fares will rise next year for summer holidaymakers amid the surging price of oil and the Iran war.<\/p>\n<p>Earlier this month, oil prices rose above $100 a barrel for the first time since July after the latest round of strikes in the conflict.<\/p>\n<p>O\u2019Leary told reporters in London that flight prices were \u201conly going one way\u201d, which is \u201csignificantly upward\u201d.<\/p>\n<p>Ryanair has already cut its air traffic target for next year on the back of efforts to use less unhedged fuel over the winter period.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/09\/1790202016_144_.JPEG\"  alt=\"ryanair-business-update\" class=\"alignnone inline-image\" \/><br \/>\n            Chief executive Michael O&#8217;Leary points to a graph during a business update (Yui Mok\/PA)                    PA<\/p>\n<p>    PA\n<\/p>\n<p>Speaking at a press conference today, O\u2019Leary said: \u201cFares for Ryanair passengers and every other passenger into the summer of 2027 are going to rise materially, I believe, because of significantly higher oil prices.<\/p>\n<p>\u201cI have no doubt fares are rising next year.<\/p>\n<p>\u201cThe question is by how much.\u201d<\/p>\n<p>He added: \u201cWe\u2019re essentially hedged this year at about $80 (\u20ac70) a barrel.<\/p>\n<p>\u201cIf we hedge next year at $100 (\u20ac87) a barrel, our oil bill goes up by 25%.<\/p>\n<p>\u201cOur oil bill this year is six billion.<\/p>\n<p>\u201cIf it goes up by 25%, that\u2019s seven-and-a-half billion next year.\u201d<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/09\/1790202017_583_.jpeg\"  alt=\"ryanair-stock\" class=\"alignnone inline-image\" \/><br \/>\n            Ryanair has already cut its air traffic target for next year (Nick Ansell\/PA)                    PA<\/p>\n<p>    PA\n<\/p>\n<p>The airline has previously warned that it believes some of its competitors will \u201cstruggle to maintain capacity or even survive\u201d this winter if oil prices remain high.<\/p>\n<p>According to the International Air Transport Association (IATA), the average global price of jet fuel rose 7.4% last week compared to the week before to $194.90 per barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"RYANAIR BOSS MICHAEL O\u2019Leary said he has \u201cno doubt\u201d air fares will rise next year for summer holidaymakers&hellip;\n","protected":false},"author":2,"featured_media":633888,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[269124,22708,72,61,60,7574],"class_list":["post-633887","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-air-fares","tag-aviation","tag-business","tag-ie","tag-ireland","tag-michael-o"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/633887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=633887"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/633887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/633888"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=633887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=633887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=633887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}