Ryanair’s chief executive has warned travelers to expect a significant increase in airfares as rising oil prices push up jet fuel costs across the industry, a comment notable given the airline’s longstanding identity as Europe’s dominant ultra-low-cost carrier.

The warning reflects broader pressure across the airline industry, where carriers have historically hedged fuel costs to varying degrees but remain exposed to sustained price increases that hedges do not fully offset.

Industry analysts say the comments may be an early signal of broader fare increases across the sector heading into the following travel season, particularly if oil prices remain elevated.