Ryanair CEO Warns Some European Airlines May Fail as Jet Fuel Rises
Ryanair CEO Michael O’Leary said some European airlines could fail if jet fuel prices remain elevated through the Northern Hemisphere summer, as disruption around the Strait of Hormuz adds to cost pressure across the sector. He said Jet A-1 fuel has risen to about $150 a barrel from about $80 in March, while the International Air Transport Association’s jet fuel monitor showed an average price of $179 a barrel in the week ended April 24.
O’Leary said Ryanair is relatively insulated because it has hedged 80% of its fuel needs, but warned carriers with weaker hedging positions could face “real financial difficulties.” Elsewhere, Sweden issued an early warning of a potential jet fuel shortage, and Press Trust of India reported that Air India, IndiGo and SpiceJet, which hold 95% of India’s aviation market, told the government the industry was on the verge of stopping operations.
From the sources (10 posts)
@ajenewsSweden has issued an early warning of a potential jet fuel shortage caused by the US-Israel war on Iran, according to Energy Minister and Deputy PM Ebba Busch. 🔴 More on
@ajenglishRT @AJENews: Sweden has issued an early warning of a potential jet fuel shortage caused by the US-Israel war on Iran, according to Energy M…
@ajenewsUPDATE: Sweden issues early warning over potential jet fuel shortage 🔴 LIVE updates:
@bricsinfoJUST IN: 🇸🇪 Sweden warns of potential jet fuel shortage.
@ajenewsBREAKING: Air India, IndiGo and SpiceJet warn airline industry on verge of stopping due to oil price 🔴 LIVE updates:
@ajenglishRT @AJENews: BREAKING: Air India, IndiGo and SpiceJet warn airline industry on verge of stopping due to oil price 🔴 LIVE updates: https://…
@theinsiderpaperNEW: Air India, IndiGo and SpiceJet, which hold 95 per cent of India’s aviation market, have told the government that the airline industry is on the verge of “stopping operations," Press Trust of India reports
@ajenewsUPDATE: Ryanair CEO warns European airlines may fail if jet fuel prices stay high 🔴 LIVE updates:
@ajenglishRyanair CEO Michael O’Leary warns some European airlines might fail if jet fuel prices remain elevated through the Northern Hemisphere’s summer, as the aviation sector faces mounting cost pressures from disruption around Hormuz Strait. 🔴 L
@middleeastmntRyanair’s CEO said Tuesday that some European airlines could fail if jet fuel prices remain elevated through the summer, as the aviation sector faces mounting cost pressure from the Middle East war and disruption around the Strait of Hormuz