Ryanair chief warns of largest-ever surge in European airfares
RYAAY Ryanair Holdings Plc ADR
$54.00 +2.84%
View chart & analysis → - 1Ryanair chief Michael O'Leary warned that European airfares will rise by the largest margin in history over the next 12 months.
- 2He projected worsening airline profitability, noting that 85% of Ryanair's estimated fuel demand for next year lacks price protection.
- 3The International Air Transport Association warned that rising fuel costs are expected to hit the aviation sector by $100 billion this year.
So what's the key point?
The head of Ryanair said that European ticket prices are set to rise significantly in the future. This means it could become harder for airlines to make money because fuel costs are going up.
Source The Telegraph +1 · View original ↗
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