European airfares could rise by 10–20% in 2027 as higher jet-fuel costs and reduced airline capacity put pressure on fares, Ryanair chief executive Michael O’Leary forecast in Brussels. He described the increase as potentially the largest in European aviation history, while stressing that it was an industry outlook rather than a confirmed change to every Ryanair ticket.
Airlines are relatively well hedged for 2026, but much of that protection expires from April 2027. Ryanair has secured fuel for only about 15% of its requirements for the following year at approximately US$85 per barrel, compared with market prices reported at roughly twice that level. O’Leary warned that higher fares might still fail to offset the full increase in fuel costs, leaving carriers with weaker margins.
He also linked the forecast to fewer available seats following airline bankruptcies, takeovers and capacity reductions. Ryanair has already cut capacity in Germany and Austria because of high operating costs.
In Belgium, the carrier plans to remove 20 routes and more than one million seats from its winter schedule, reallocating six aircraft after the national aviation tax is due to rise from €2 to €7 per passenger in January. The fare outlook remains conditional on fuel prices, airline hedging, capacity and passenger demand.