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Holidaymakers will have to pay more for their plane tickets as Ryanair said it expected to push up its fares by 12 per cent.

The warning from Michael O’Leary, the airline’s chief executive, is the latest blow for families who are also likely to face a fresh rise in Air Passenger Duty in November, even though Britain has the highest aviation taxes in Europe.

Mr O’Leary announced the price increases as he unveiled Ryanair’s latest results.

“Significantly higher revenues were largely offset by higher operating costs as fuel rose 49 per cent,” he said.

“We are passing on those higher prices to consumers with a slight increase in fares, however fares are still lower than they were in 2007.”

Some carriers are paying as much as 50 per cent more for their fuel than they were a year ago .

This year has seen British Airways increase its fuel surcharges in February and April because of the spiralling cost of oil.

“Fuel prices have gone up considerably over the past year,” said Brian Pearce, chief economist at the International Air Transport Association, which represents the world’s major airlines.

“Air transport is one of the most fuel intensive industries and this will put substantial pressure on operating costs.

“Like any other industry, aviation will have to recoup these costs.”

EasyJet has also predicted more fare rises unless the price of oil eases. “If fuel stays high Full article here…