Ryanair CEO Michael O'Leary warned that airfares could rise significantly next year if oil prices remain elevated. Brent crude recently surpassed $100 per barrel.
Fares for the current quarter are expected to be slightly lower. The outlook for the winter remains uncertain due to volatile fuel costs.
Ryanair has hedged 80% of its fuel requirements for the upcoming winter. This hedging strategy provides a stronger market position than many European competitors.
The airline confirmed it will not implement specific fuel surcharges. However, Ryanair may raise prices if competitors increase their fares first.