Ryanair CEO O'Leary says airline will not levy fuel surcharge

Ryanair ​group CEO Michael O'Leary ‌said on ​Wednesday the airline "will not levy a fuel surcharge" amid higher prices for ‌jet oil, though he predicted rivals may do so, and forecast more consolidation in the sector as a result of elevated ‌fuel costs.

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. "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."