Cheap flights in Europe face a fuel cost reckoning as Ryanair’s CEO says fares could rise up to 20% next year because of the Iran war

Americans planning next year’s summer Euro trip may want to start saving now as the Iran war pushes up fuel prices and the CEO of the world’s biggest budget airline warns that the continent’s notoriously cheap short-haul flights could soon become more expensive. Ryanair CEO Michael O’Leary said on CNBC following the company’s earnings call Monday that he expects European airfares to rise by 10%, and maybe even 20% next year, potentially dealing another blow to Americans hoping to visit multiple European destinations without breaking the bank.

Source: Fortune Crypto