Ryanair CEO Michael O’Leary has warned that several European airlines could collapse if jet fuel prices remain elevated through the summer, as reported by CNBC.
Jet fuel prices have surged following the Middle East conflict and the blockade of the Strait of Hormuz. O’Leary said prices have risen from about $80 per barrel in March to nearly $150, putting pressure on airline finances.
Ryanair’s O’Leary warns European airlines could fail if jet fuel price doesn't fall https://t.co/B9q8o4LqIR
— CNBC (@CNBC) April 28, 2026
According to O’Leary, Ryanair is largely shielded due to hedging 80 percent of its fuel needs. He warned that competitors without similar protection could face severe financial strain in the coming months.
The report said sustained high fuel costs could trigger industry consolidation, with weaker airlines at risk of failure. O’Leary argued this could ultimately benefit stronger carriers like Ryanair.
He also said the airline does not plan to raise fares despite rising costs, citing improved fuel supply conditions in recent weeks.
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