Michael O’Leary, the chief executive of Ryanair, has issued a forecast suggesting that European air passengers should prepare for record-breaking ticket price increases in 2027. According to O’Leary, the primary driver for this surge is the escalating cost of jet fuel, which he links directly to the ongoing conflict in the Middle East.

O’Leary noted that many airlines currently lack financial hedging strategies to protect themselves against these volatile fuel prices. Consequently, he predicts that the industry will face significant financial strain, potentially leading to a wave of airline bankruptcies and corporate takeovers across the continent. He specifically estimated that ticket prices could rise by 10% to 20%, characterizing this as potentially the largest increase in European aviation history. While O’Leary’s comments highlight the vulnerability of airline balance sheets to global energy markets, the report relies entirely on his projections without independent verification from other industry analysts or competing airline executives.