Ryanair CEO warns airlines could fail as fuel prices surge

Ryanair CEO warns airlines could fail as fuel prices surge Michael O’Leary, chief executive of Ryanair, said some European airlines could collapse if jet fuel prices remain high through the summer amid disruption around the Strait of Hormuz. He said Ryanair is relatively protected after hedging most of its fuel, but warned competitors without similar cover face “real financial difficulties”. O’Leary noted jet fuel prices have risen sharply in recent weeks and said sustained high costs into the summer could push weaker airlines into failure. Industry data shows prices have climbed significantly, while officials warn Europe could face shortages if supplies from the Middle East are not replaced.

Michael O’Leary, chief executive of Ryanair, said some European airlines could collapse if jet fuel prices remain high through the summer amid disruption around the Strait of Hormuz.

He said Ryanair is relatively protected after hedging most of its fuel, but warned competitors without similar cover face “real financial difficulties”.

O’Leary noted jet fuel prices have risen sharply in recent weeks and said sustained high costs into the summer could push weaker airlines into failure.

Industry data shows prices have climbed significantly, while officials warn Europe could face shortages if supplies from the Middle East are not replaced.