"We don't expect any disruption until early May, but if the war continues, we do run the risk of supply disruptions in Europe in May and June. So like everyone else in this industry, we hope the war ends sooner rather than later."
"Most of Europe takes most of its jet fuel supplies from America, western Africa, and Norway. We think our supplies are secure and we intend to continue to grow through this crisis."
"Lots of families who would have been going either to the Middle East or flying over the Middle East to go to Asia have all rebooked, and they're going to Italy, Portugal, Spain, Greece."
Ryanair's CEO Michael O'Leary warned of potential jet fuel supply disruptions in Europe if the Iran war persists beyond early May. He indicated that 10% to 25% of Ryanair's fuel supplies could be at risk during May and June. Jet fuel prices have surged, doubling since the war began, while Brent crude has increased by about 50%. Despite hedging 80% of fuel costs, 20% remains vulnerable to price hikes. O'Leary expressed confidence in Ryanair's supply security and noted a shift in travel preferences among Europeans towards closer destinations.
Read at www.businessinsider.com
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