European Airlines Say Flyers Will Pay for Higher Fuel Costs

Europe’s major airlines warned they’ll have to pass on higher fuel costs to their passengers as the war in Iran escalates and oil tankers remain stranded in the Persian Gulf.

Many of the continent’s carriers are well-hedged, protecting them in the short-term from spiking oil markets, but any extra costs for them will lead to higher ticket prices, Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said. He sees a 4% increase in fares if the war ends before summer, but a significantly higher percentage if it doesn’t.