Ryanair says it may freeze workers' pay and raise airfares

Ryanair is considering a impermanent wage frost for unit to wage for a crisp emergence successful its substance costs which person surged pursuing the US-Israel warfare with Iran.

The bearer said it expects substance prices to stay precocious "well into 2027" unless determination is simply a "swift resolution" to the conflict.

Ryanair said its substance measure is forecast to beryllium €2bn (£1.6bn) higher successful the short-term and said it expects European airfares to summation to assistance screen the cost.

But it said that was improbable to beryllium capable and, among a fig of measures, it is looking into "temporary wage freezes". The BBC has contacted Unite, the national which represents Ryanair employees, for comment.

The hose said its pre-tax profits fell by 16% to €2.4bn during the six months to the extremity of September, mostly owed to higher substance costs jumped by 15%.

Ryanair said that though 80% of its substance measure had been "hedged" – successful effect, bought successful beforehand astatine fixed prices – the outgo of the remainder had doubled.

Aviation substance prices person surged this twelvemonth arsenic a effect of the warfare successful the Middle East, which has dramatically reduced the proviso of refined products coming from the Gulf and accrued contention for those produced elsewhere.

Ryanair's main executive, Michael O'Leary, said past period helium expects the steadfast and different airlines to summation fares by 15% to 20% adjacent year.

He said astatine the time: "You're going to spot the biggest summation successful airfares, I would say, successful past successful Europe successful the adjacent 12 months.

"The question is, volition that summation successful airfares beryllium capable to screen the dramatically higher lipid bills? I don't deliberation it volition be."

Ryanair said it was weighing up freezing wage arsenic "maturing labour agreements" - multi-year wage deals with unions - travel to to an end.

It besides said it would summation its usage of artificial quality wrong its backmost bureau and enactment functions.