Ryanair expects salary freezes due to rising fuel prices

Ryanair is considering temporary salary freezes and increased use of AI to cut costs due to rising fuel prices linked to the Middle East conflict. CEO Michael O'Leary stated that unless the conflict resolves quickly, jet fuel prices will remain high through much of 2027. Currently, 80% of fuel needs are covered at a lower price, but only 25% is secured for 2027-2028 at a higher cost. The airline anticipates a €2 billion increase in fuel expenses and plans to review all costs, including potential salary freezes during collective agreement renewals. Travelers should expect significant fare increases unless oil prices drop significantly. Ryanair also announced a reduction in winter flights and reported a 15% drop in profits for the first half of the fiscal year.