Ryanair CEO warns of possible increase in airfares
Ryanair CEO Michael O'Leary said airfares could rise significantly if high oil prices persist next year. According to CNBC Top News, which cited Reuters, he told journalists this ahead of the company's annual general meeting.
Uncertainty over winter fares
O'Leary noted that in the second quarter — from July to September — Ryanair expects a very slight decline in prices. At the same time, prices in the quarters ending in December and March remain uncertain.
In his assessment, a prolonged period of high oil prices could lead to a significant increase in air travel costs. The executive added that the company hopes to avoid such a scenario.
More current news is available on the UA.News Telegram channel Telegram.
Fuel prices
CNBC reported that rising jet fuel prices are increasing pressure on the industry. On Thursday, oil prices rose amid concerns over escalating tensions in the Middle East and the possible impact on energy supplies.
Brent remained above $100 per barrel. U.S. West Texas Intermediate crude futures rose 1.4% to $97.4 per barrel.
