Ryanair CEO Michael O’Leary stated that if the crisis in the Strait of Hormuz continues, 5% to 10% of the airline’s flights could be canceled in May, June, and July. O’Leary noted that there is a risk of jet fuel supply shortages in Europe and that decisions may be made on an airport-by-airport basis depending on fuel availability.
According to O’Leary, the main issue is not only rising prices but also the physical availability of fuel in certain locations. Reuters reported that Europe’s dependence on Gulf-sourced jet fuel is increasing supply pressure, and that Ryanair is monitoring suppliers on a daily basis.
The airline expects ticket prices to rise year-on-year during the summer season, while potential cancellations will depend on where fuel shortages occur.
