John Whelan: We are at the end of the low-cost airline ticket era

Airlines cannot hold out for much longer against the soaring cost of fuel

Ryanair looks to be best placed to hold out against the competition with 80% of its fuel consumption for 2022 hedged at $63 a barrel.

After a three-year roller coaster that sent many in the airline industry into liquidation, while others turned to their governments for bailouts to stay in business, the aviation industry bounced back this year. 

However, the profitability of the industry has been damaged by the dramatic rise in fuel prices since the start of the year, placing pressure on airlines to raise ticket prices.