The End of Cheap European Flights? Ryanair CEO Michael O'Leary has issued a warning shot across the bow for travelers who've grown accustomed to dirt cheap flights to Europe.
If oil prices remain above $100 a barrel into next year, those days of $20 tickets are numbered.
The airline industry has weathered the storm so far, but Ryanair's fuel hedging program – which typically locks in 70 90% of its jet fuel costs in advance – is no longer a safety net.