Ryanair’s O’Leary warns European airlines could fail if jet fuel price doesn't fall [MSNBC.com]
Ryanair Holdings plc - American Depositary Shares, each representing five Ordinary Shares (RYAAY)
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Source: MSNBC.com
European airlines will fail if the price of jet fuel remains elevated over the summer, the CEO of budget airlineRyanairSpeaking to CNBC on Thursday, CEO Michael O'Leary said that his airline was protected because it had hedged 80% of its fuel but predicted "real failures" for other airlines if the price of jet fuel did not fall.The price has surged since the critical Strait of Hormuz was blockaded after the war in the Middle East began on Feb. 28."Pricing has mushroomed since March. Jet A-1 was about $80 a barrel in March. It's now $150," O'Leary told CNBC'sBen Boulos"If pricing stays higher for longer this summer, we think a number of our airline competitors in Europe are going to face real financial difficulties," he said."I think there will be failures," O'Leary added. "If it continues at $150 a barrel into July, August, September, then you'll see European airlines fail and that, in the medium term, would probably be good for Ryanair's business."He added: "We are the best insulated
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- Ryanair CEO warns of European airline failures if jet fuel price stays high [CNBC]CNBC
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- German airports body alarmed at Ryanair decision to shut Berlin base [Yahoo! Finance]Yahoo! Finance
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RYAAY
Sec Filings
- 4/27/26 - Form 6-K
- 4/27/26 - Form 6-K
- 4/20/26 - Form 6-K
- RYAAY's page on the SEC website