Due to high fuel prices, Ryanair plans to raise ticket prices next year

Ryanair plans to raise ticket prices next year due to soaring fuel costs linked to the US-Israel conflict with Iran. The airline's half-year profit dropped by 15%, attributed to rising fuel prices, which are expected to remain high until at least 2027 unless the conflict resolves quickly. The cost of unhedged jet fuel doubled to nearly $130 per barrel, leading to a 10% increase in operating costs. CEO Michael O'Leary indicated that a 20% fare increase might be necessary to cover fuel expenses, although he doubts this will be achieved. The airline is also considering cost-cutting measures, including freezing employee salaries after existing agreements expire in April, and plans to enhance the use of artificial intelligence in operations.