O'Leary made the comments on Tuesday at a news conference in Brussels, foreshadowing the increase as a result of bankruptcies and takeovers among airlines.

He anticipates, together with the unhedged positions, that this will result in fares increasing by as much as 20 percent, The Independent reports.

“You're going to see airfares rise next year in Europe, I think by 10, 15, maybe 20%. You're going to see the biggest increase in airfares, I would say, in history in Europe for the next 12 months,” O'Leary said.

O'Leary was in Brussels to announce he was cutting 20 routes and more than a million seats from Belgium for the airline's winter schedule, after Belgium revealed plans to increase its aviation tax from €2 to €7 in January 2027.

European airlines face higher fuel costs

The war in Iran has caused jet fuel prices to rise sharply, increasing costs for airlines that had not secured their fuel prices in advance.

Ryanair CEO Michael O’Leary said that Ryanair and other European airlines had protected themselves against rising fuel prices for 2026 by agreeing to buy fuel at fixed prices before the conflict began in late February.

Ryanair had already secured 80 percent of its fuel needs at $67 per barrel until March 2027, protecting the airline from much of the recent price increase.

However, O’Leary warned that most European airlines have little protection against rising fuel prices from April 2027 onwards.

Ryanair has secured just 15 percent of its fuel needs for the following year at $85 per barrel, while current market prices are approximately twice as high.

Ryanair anticipates new Boeing aircraft

The CEO also said he was optimistic that US certification of the Boeing 737 MAX 10 will be completed this month, allowing Ryanair to receive 16 planes in early 2027.

“Boeing are hoping to have the MAX 10, the new aircraft, certified before the end of October ... We're pretty optimistic that that date will be hit,” O'Leary said.

US Transportation Secretary Sean Duffy is expected to announce on Tuesday that the Federal Aviation Administration has approved the long-delayed 737 MAX 10, following concerns that a navigation software issue could further delay its certification.

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