Could higher fuel costs push up ticket prices? Wizz Air CEO speaks out about fuel crisis

According to the CEO of Wizz Air, the airline is not facing an immediate fuel shortage, but jet fuel prices could remain high for longer due to ongoing uncertainty.

József Váradi, CEO of Wizz Air, told reporters in London that concerns about fuel shortages are overstated. While a direct shortage is not expected, the current situation is already reflected in rising prices.

Although he did not specifically address ticket pricing, higher fuel costs typically have to be absorbed somewhere, and in the airline industry this is often reflected in fares.

Airlines adapting to higher fuel costs

Jet fuel prices are currently around $1,500 per ton, roughly double the level seen before the Middle East conflict. This sharp increase has significantly raised operating costs for airlines and is also reshaping supply chains. Market players are increasingly relying on transatlantic routes between the United States and Europe, partially replacing earlier Middle Eastern supply sources.

Váradi noted that prices may remain elevated even if the conflict subsides, suggesting that higher fuel costs could persist. According to the company’s investor reports, Wizz Air has taken steps to mitigate risks:

It has hedged around 83% of its fuel needs for the financial year ending March 2026, but this figure drops to about 55% for the following period, increasing its exposure to price fluctuations.

CNBC has also highlighted this vulnerability, noting that Wizz Air could be among the most exposed European airlines to rising fuel prices, as competitors such as Ryanair have significantly higher hedging levels, around 80%.

The conflict is also expected to impact the company’s financial performance, with Wizz Air estimating a negative effect of around €50 million on its results for the financial year ending in March.

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The upcoming summer season

As we previously reported, despite the current challenges, Wizz Air remains confident about the summer season and expects strong demand, with booking levels significantly higher than a year earlier.

Speaking in late January, Váradi said the airline expects a “very strong summer,” supported in part by the decision to retain five long-haul aircraft, allowing for greater flexibility in managing routes and capacity.

At the same time, the airline has announced further expansion. Capacity at its Budapest base is set to increase by around 30%, with additional aircraft being deployed and new routes launched for the summer schedule.

Wizz Air carried 72 million passengers in 2025 with a fleet of 249 aircraft, and expects that figure to rise to 80 million in 2026. This suggests that demand has not only recovered to pre-pandemic levels but in some cases exceeded them.

While this strong demand benefits airlines, the combination of rising costs and high passenger numbers creates an environment where price increases are easier to implement. As a result, the impact of higher fuel costs is increasingly likely to be felt by travelers.

What's next? Hungarian international airport to suspend operations for several days