Ryanair, TUI, Jet2 and easyJet flight price latest as $100bn jet fuel bill to hit airline industry

Multiple major airlines have promised Brits there won't be any surprise price increases, amid concerns about a looming jet fuel crisis.

Global trade has been upended since the US-Israeli decision to launch a series of strikes on Iran at the end of February, with the Middle Eastern nation responding by blockading the Strait of Hormuz.

The key waterway, which sees 20 percent of the world's oil and liquefied natural gas pass through, has been largely shut for the last three months. With crude oil being the primary source of most of our liquid fuels, there are widespread concerns about shortages as nations burn through their stockpiles – which includes jet fuel.

Concerns about potential travel disruptions arose once again after aviation executives predicted a $100bn jet fuel bill for 2026, forecasting that prices would ultimately be passed down to consumers.

Worried about summer price increases? Here is the latest from several major airlines (Getty Stock Images)

Oh great, more price increases.

But before anyone goes into panic mode about their upcoming holiday, numerous budget airlines have promised passengers they won't be slapped with fuel surcharges.

Jet2

On 24 April, Jet2 promised customers that neither its airline nor tour operator would be adding fuel surcharges to already booked holidays. This covers bookings made directly through the airline or via a travel agent.

The company also removed its surcharge clause from its terms and conditions, providing more reassurance for customers.

"Holidaymakers should have every right to book their hard-earned break in the sun, without worrying about being hit with additional costs," Steve Heapy, CEO of Jet2 said, adding: "And they can have that complete assurance when they book a flight or holiday with Jet2.

"As a result of today’s announcement, customers booking with Jet2 know that they are locking in their price without additional cost surprises later and we strongly believe that is the right thing to do by them. Ahead of a busy summer this is yet more evidence of why, on top of our incredible holidays and award-winning customer service, nothing beats a Jet2holiday.”

Several airlines have promised customers they won't be met with nasty surprises (Mateusz Wlodarczyk/NurPhoto via Getty Images)

easyJet

easyJet has also committed to no fuel surcharges on pre-booked flights, package holidays or future bookings for summer 2026.

"We know that holidaymakers may have questions about what recent global events might mean for their travel plans this summer so we are giving our customers absolute peace of mind that no surcharges will be added to their flights or package holidays." Garry Wilson, CEO of easyJet holidays, said.

"Our operations remain unaffected, so customers can be confident that not only will their holiday go ahead as planned, but there will be no surprise extra payments, and they can enjoy their brilliant holidays at unbeatable prices."

The airline added that the announcement was in line with its commitment to transparent pricing, ensuring customers that they would not face unexpected additional costs.

TUI

TUI is the third airline to reassure Brits that there won't be any unexpected charges heading their way, with Neil Swanson, Managing Director at TUI UKandI, saying: "Those who have already booked with TUI can be reassured that their holiday price is fixed, with no fuel surcharges added."

Like Jet2 and easyJet, TUI has also reassured customers (Getty Stock Images)

Ryanair

Ryanair has not commited to price freezes, with CEO Michael O'Leary instead warning about potential flight cancellations if the crisis continues.

However, he is confident the cancellations will be minimal, telling Sky News: "Most of Europe takes most of its jet fuel supplies from America, western Africa, and Norway.

"We think our supplies are secure and we intend to continue to grow through this crisis."

He added that 80 percent of Ryanair's fuel costs are fixed until next March, with the remaining 20 percent exposed to potential increases.

However some airlines may pass price increases on to customers (Anthony Devlin/Bloomberg via Getty Images

What are other airlines saying?

The announcements from TUI, easyJet and Jet2 are in contrast to airlines such as British Airways, Iberia and Aer Lingus, whose parent company, International Consolidated Airlines (IAG), confirmed price adjustments in response to rising fuel costs.

Meanwhile, it has been reported that Virgin Atlantic will be adding a surcharge of £50 to economy-class tickets, £180 to premium seats and an additional £360 to business-class tickets.

Speaking about the decision, CEO Corneel Koster told The Mirror: "We have never seen jet fuel at this level and airlines cannot sustain those sorts of high costs."