Ryanair CEO warns airlines could fail as fuel prices surge

NEWS SUMMARY

Ryanair CEO Michael O'Leary warned that some European airlines may fail this summer due to surging jet fuel prices, potentially exacerbated by disruptions near the Strait of Hormuz. He noted that airlines without fuel hedging strategies face significant financial risks as prices have risen sharply.

Full BriefGenerated 0m ago

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”.

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