Ryanair warns of fare rises

Ryanair CEO Michael O'Leary said on CNBC that European airfares could rise by ten percent, and maybe even twenty percent next year due to rising fuel costs.

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Fuel bill to jump two billion euros

Ryanair said its annual fuel bill will increase by about two billion euros next year. O'Leary said fares would need to rise twenty percent, or about ten euros per passenger, to cover it.

“fares would need to rise 20%, or about 10 euros per passenger, to cover all of it”

Ryanair cutting passenger targets

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Book early or pay more later

O'Leary warned travelers thinking about waiting for a bargain should book now instead. A fifty euro flight rising twenty percent would cost sixty euros, with costs multiplying across family members and destinations.

“I would encourage them all to book early, because the longer you wait, the higher fare you are going to pay”