Airline Ticket Price Increases

Ryanair and Virgin raise ticket prices and cut schedules amid rising fuel costs.

Ryanair has announced that the cost of flights will increase due to the rising price of fuel oil, due to ongoing war in Iran. The airline has also cut the number of passengers it plans to carry this winter and reduced its winter schedule to use less 'unhedged' fuel. The average price of jet fuel has risen by 8.2% month-on-month to around 156 US dollars per barrel, and is 74.2%. Ryanair has reduced its 2027 air traffic target from 216 million to 214 million passengers to reduce its use of expensive unhedged oil. Virgin Group founder, Sir Richard Branson, criticised the political decisions driving the increase, stating that the Iran conflict was unnecessary.

Topics