Ryanair CEO Michael O’Leary has warned that some European airlines could face bankruptcy if energy prices remain high and the crisis in the Strait of Hormuz continues into the autumn season.
O’Leary stated that the company has suspended its full-year financial guidance due to ongoing uncertainties. He also noted that although ticket prices were expected to rise during the summer season, fares are currently remaining flat.
Ryanair management emphasized that despite strong passenger demand, high energy costs and inflation concerns have made consumers more cautious. The airline noted that increasing operational costs cannot be fully reflected in ticket prices, adding that profitability pressure across the aviation sector is continuing to grow.
Michael O’Leary also referenced the recent situation involving Spirit Airlines in the United States, saying a similar process could also occur in Europe.
