Ryanair Boss Warns Airfares Could Rise 20% Next Summer

Michael O’Leary says airlines will take on most of the costs.

Ryanair's boss has warned airfares could rise by up to 20% next summer if oil prices stay high.

Michael O'Leary says airlines will absorb most of the costs, but some increases may have to be passed on to passengers.

He also admitted he wants oil prices to stay high because it'll force other budget carriers out of the market.

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