Airfares between Europe and Morocco could see an unprecedented rise as early as next spring. Michael O’Leary, the chief executive of Ryanair, has warned of a potential increase of up to 20 per cent due to the dramatic surge in kerosene prices.
Travelling between Europe and the Maghreb is likely to become significantly more expensive over the coming months. At a press conference held on Tuesday 20 October in Brussels, Michael O’Leary, the chief executive of the low-cost airline Ryanair, announced an upward revision of fare structures across the European market. According to the CEO’s forecasts, airfares could jump by 10, 15 or even 20 per cent over the coming year. For a family that usually spends 1,000 euros on trips to Morocco, the total cost could therefore rise to as much as 1,200 euros. This prospect is of particular concern to the Moroccan community living in France, Belgium, the Netherlands and Spain, who travel regularly to the Kingdom.
The main cause of this fare pressure lies in the sharp rise in the price of kerosene on international markets. According to data provided by the International Air Transport Association, the average price of aviation fuel rose by nearly 128 per cent over the course of a year, reaching over 207 dollars per barrel in Europe in mid-October. Whilst airlines have so far managed to contain the rise thanks to financial hedging contracts negotiated in advance, this protection is coming to an end. From next April, the majority of Ryanair’s and its competitors’ fuel supplies will be directly exposed to market fluctuations, which will inevitably be passed on to the end passenger.
On top of rising fuel costs, there has been an overall reduction in the number of seats available across Europe. Recent bankruptcies amongst industry players and the takeover of several regional airlines are reducing competition, whilst tax increases are prompting some carriers to review their flight schedules. For example, Ryanair has already officially announced the cancellation of over one million seats and twenty routes from Belgium for the winter season. Despite this challenging climate, the Irish airline is maintaining its strategic push into the Moroccan market by announcing the launch of new routes to Tangier and Marrakesh for next summer, with final fares to be revealed when bookings open.
