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Ryanair will refrain from imposing fuel surcharges despite rising jet oil costs, group CEO Michael O’Leary said on Wednesday, while predicting that rival carriers will introduce extra fees and drive further market consolidation.
He told reporters: “Most of the airlines were well hedged into the summer of 2026, and therefore we absorb the kind of shock of the much higher oil prices this summer.”
Warning that protection against these rising costs is temporary, he said: “None of us will be able to absorb those much higher oil prices next year … and it will get passed on in the form of fuel surcharges on higher airfares.”
“Ryanair will not levy a fuel surcharge, but the legacy guys certainly will next summer.”
O’Leary added: “I very much hope that jet (fuel) prices will rise faster into next year because that will accelerate the extent to which other airlines will fail.”
“Airlines who are currently loss-making will fail. It will accelerate the consolidation of Europe into four large airlines: BA (British Airways), Lufthansa, Air France and Ryanair.”
O’Leary’s comments come just days after he finally apologised for comparing rival airlines to rapists.
The billionaire boss faced strong criticism from politicians across Ireland and the UK, as well as sexual violence support groups, after initially insisting the comparison was “absolutely” appropriate.
Having faced mounting calls to retract the comments, O’Leary posted a video message last Friday explaining that discussions with friends and family caused him to recognise the harm his language had inflicted.
Addressing survivors of rape and sexual assault in particular, he apologised “sincerely and unreservedly”.
In the video broadcast by Virgin Media News on Friday, he said: “Last week at a press conference in Dublin, I used the term rapists to described the high fares of our competitor airlines. I was quizzed by the press if I was trivialising rape.
“I replied by asserting my firm belief that rape is a heinous and terrible crime which cannot be trivialised. I believe I couldn’t have been clearer in this regard.
“In conversations with family and friends, both inside and outside Ryanair, over the last 10 days, I have come to realise, however, that the word I used so carelessly has caused considerable upset and offence to a wide number of people, especially victims and survivors.
“I want to apologise, sincerely and unreservedly to those people, especially to the survivors. I am truly sorry for the offence and upset I have caused you by my careless use of those words. It won’t happen again.
“I will try to learn from this mistake and do better in the future. Thank you.”
