Ryanair Warns Plane Tickets Could Jump 20 Percent
Flying in Europe could cost up to 20 percent more next year as fuel prices climb.
Vacation plans might get pricier soon. Travelers in Europe face higher ticket prices in the coming year. Rising fuel costs squeeze airline budgets, and carriers plan to pass those bills to passengers.
Ryanair boss Michael O'Leary broke the news this week. He expects ticket prices across Europe to jump as much as 20 percent. Jet fuel costs keep climbing, which forces airlines to charge more to stay profitable.
Airlines buy fuel months in advance to protect their cash. Higher oil prices make each new purchase more expensive. Budget carriers must raise their prices when fuel bills spike.
Travelers can protect their wallets by planning trips early. Booking flights ahead of time helps lock in lower rates before these price hikes take off.
Source: CNBC
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