BRUSSELS (AP) — Belgian Prime Minister Bart De Wever handed in his resignation on Monday as a long-simmering budget crisis boiled over, but King Philippe has not yet decided whether to accept it.
De Wever, a conservative Flemish nationalist, took office determined to tackle heavily indebted Belgium's budget problems but failed to win the support of the other members of his five-party government for his proposals.
Belgium’s Royal Palace confirmed that De Wever had resigned “following the failure of budget negotiations within his government.” The King, who oversees the formation of national governments, is “withholding his decision” on whether to approve.
“The King regrets the lack of an agreement that would provide the country with a credible budget capable of addressing the challenges it currently faces,” said a statement from the palace, following a meeting of about an hour between the two men.
King Philippe intends to consult with party group leaders from Tuesday, before receiving De Wever at the palace again on Friday.
De Wever, who took office in February 2025, is now struggling to clinch a deal on the 2027 budget before Dec. 31.
Belgium is one of the most heavily indebted countries in the 27-nation European Union, along with France and Italy. Its debt load has been mounting for years, but the COVID pandemic and an energy crisis made things worse.
The European Commission has forecast Belgium’s debt to rise to 110% of its gross domestic product this year. The interest accumulating on that debt also poses a major challenge at a time when the government wants to boost defense spending.
The government crisis comes against a backdrop of growing student protests in the country and frequent strikes, including several “national action days” led by unions.
FILE - Belgium's Prime Minister Bart De Wever speaks during a media conference in Brussels, Friday, Dec. 19, 2025. (AP Photo/Geert Vanden Wijngaert, File)
The CEO for Ryanair expects European plane ticket prices may climb as much as 20% next year with the conflict in the Middle East ongoing.
“So we’re facing 2027 where we have much higher oil prices... I think they’re going to get passed on in significantly higher airfares,” CEO Michael O’Leary said in a Monday interview on CNBC.
The price of jet fuel has been extremely volatile after the U.S. and Israel launched attacks on Iran.
Jet fuel has risen even faster than oil during the war, reflecting both higher crude prices and tight supplies of the refined fuel that is one of the largest operating expenses for airlines. Carriers have cut some less profitable flights and raised fares and baggage fees, although major U.S. airlines said higher passenger revenue initially covered only part of their soaring fuel costs.
Globally, jet fuel averaged about $99 a barrel on Feb. 27, the day before the war began, according to the International Air Transport Association’s Jet Fuel Price Monitor. Prices more than doubled to $209 by early April, fell for nearly three months and reached $195 a barrel in mid-September following their renewed ascent, IATA said, citing data from S&P Global Energy Platts. The global average jet fuel price is currently hovering around $196 a barrel.
Since diesel and jet fuel are closely related products that compete for space at refineries, shortages of one can put additional pressure on the price and availability of the other.
The IATA expects fuel to account for nearly one-third of airline operating expenses this year, up from about a quarter in 2025.
Ryanair said Monday that it doesn't expect European short haul airfares to fully offset anticipated increases in its fuel bill for next year, so it is reviewing its costs and may have to impose temporary pay freezes, lower crew ratios and use more artificial intelligence to get further productivity for back office and support functions.
FILE - A Ryanair Boeing 737 MAX takes off from Lisbon airport, Wednesday, Jan. 25, 2023. (AP Photo/Armando Franca, File)
