Ryanair is contemplating a non permanent wage freeze for workers to pay for a sharp rise in its gasoline prices which have surged following the US-Israel conflict with Iran.

The service said it expects gasoline costs to stay excessive “well into 2027” unless there is a “swift resolution” to the battle.

Ryanair said its gasoline invoice is forecast to be €2bn (£1.6bn) greater in the short-term and said it expects European airfares to enhance to assist cowl the price.

But it said that was unlikely to be enough and, among a quantity of measures, it is trying into “temporary pay freezes”. The BBC has contacted Unite, the union which represents Ryanair workers, for remark.

The airline said its pre-tax earnings fell by 16% to €2.4bn during the six months to the finish of September, largely due to greater gasoline prices.

Ryanair said that although 80% of its gasoline invoice had been “hedged” – in impact, purchased in advance at fastened costs – the price of the the rest had doubled.

Aviation gasoline costs have surged this yr as a outcome of the conflict in the Middle East, which has dramatically decreased the provide of refined merchandise coming from the Gulf and elevated competitors for these produced elsewhere.

Ryanair’s chief govt, Michael O’Leary, said last month he expects the agency and other airways to enhance fares by 15% to 20% next yr.