Ryanair's CEO warns: Ticket prices will rise to record levels. 10, 15, or maybe 20 percent

Michael O'Leary, CEO of Ryanair, predicts significant ticket price increases in the European aviation market next year, potentially by 10-20%. This surge is attributed to high fuel costs and reduced seat availability due to expected airline bankruptcies and mergers. Currently, many airlines are losing their fuel price hedging protections, leading to higher operational costs. Ryanair has secured only 15% of its fuel needs at $85 per barrel, while market prices are much higher. Additionally, Ryanair plans to cut 20 routes in Belgium in response to a proposed increase in the aviation tax. O'Leary also mentioned the expected certification of the Boeing 737 MAX 10, allowing Ryanair to receive new aircraft by early 2027.