Ryanair Warns Airfares Could Jump 20% Next Year

Flying across Europe could cost much more next year. Vacation plans will demand bigger budgets as airlines face rising energy costs.

Ryanair leader Michael O'Leary expects ticket prices to jump up to 20% next year. His airline expects its fuel bill to surge by $2.2 billion. Other carriers across Europe face the exact same pressure.

Airlines pass these higher fuel costs straight to passengers. Cheap seats will become harder to find as jet fuel prices climb.

Book trips early to secure the best rates before prices climb. Investors can watch airline stocks and fuel costs to track changes in consumer spending.

Source: CNBC