NTV Dünya2 hours agoBusiness1 min readTürkiye

O'Leary predicted summer flight ticket prices could increase by 10-20%

Quick Look

In his statements in the British media, Ryanair CEO Michael O'Leary stated that flight ticket prices may increase by 10-20% in the summer period due to high oil prices and jet fuel costs and that some airline companies may be at risk of bankruptcy.

AI-generated summary

Why It Matters

Oil prices had risen due to the war in the Middle East and supply disruptions in the Strait of Hormuz. This situation began to affect the operational expenses of airline companies by increasing jet fuel costs.

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According to reports in the British media, O'Leary stated that flight ticket prices may increase because airline companies cannot afford high oil prices.

Predicting that flight ticket prices in Europe could rise by 10-20 percent next summer, O'Leary predicted that jet fuel could remain 40 percent more expensive than crude oil due to the insufficient refinery capacity.

O'Leary stated that several airlines could "go bankrupt" this winter due to rising jet fuel prices. "If I were planning a holiday, I would book plane tickets today because there is only one direction plane tickets can go next summer and that is dramatically up." he said.

Oil prices increased sharply after the supply disruption in the Strait of Hormuz, which is strategically located in global oil and petroleum products trade, due to the war in the Middle East.

Oil prices, which remain high due to geopolitical risks, continue to put upward pressure on flight ticket prices.

What to Watch

AI outlook — possibilities, not facts

Flight ticket prices will increase by 10-20% during the summer period
Likely · Within months
Several airlines may go bankrupt
Possible · Within months

Open Questions

To what extent will airline companies reflect this cost increase to passengers?
Which airlines specifically are at risk of bankruptcy?
How long are oil prices expected to remain at this level?