Ryanair CEO Michael O'Leary Warns of Airfare Hikes Amid High Oil Prices
6 Articles
6 Articles
Ryanair's CEO said that airfares could become significantly more expensive if oil prices remain high, while soaring fuel costs are putting the aviation industry in an increasingly difficult position, CNBC reported.
The airline has purchased oil in advance, so it does not expect a price increase in the short term, but if the price of oil remains above $100 next year, it could lead to a significant increase in prices.
Ryanair warns that air ticket prices could increase significantly in Europe if the fuel price for aircraft remains high until 2027. The Irish company expects that some of the weaker airlines protected against oil charges will have difficulties in maintaining the races or even not to resist until the end of the winter season, writes the Romanian press.
The US-Iran war has already hit demand for air travel. Ryanair's chief executive warned on Thursday that airfares could rise "significantly" if oil prices remain high, as soaring fuel costs continue to weigh on the industry. "We expect prices to ease very slightly in the second quarter (July-September), but the December and March quarters remain uncertain," Michael O'Leary told reporters ahead of the company's annual general meeting, Reuters rep…
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
