Ryanair Chief Says Jet Fuel Shortage Risk Is Passing
Ryanair chief executive Michael O'Leary has said that fears of jet fuel shortages in Europe are gradually easing, with suppliers' mood having improved markedly in recent weeks. He said the suppliers currently see no risk of shortages until at least the end of June.
As recently as early April, the airline had warned of possible supply problems due to the conflict in the Middle East.
Ryanair also expects rival airlines to come under greater pressure, as they are less well hedged on fuel prices. The company is planning to cut ticket prices to support demand, which has been somewhat weaker than expected for the summer. As a result, fares may not rise this year, despite original expectations that they would.
O'Leary cautioned, however, that the situation could still change. A quick resolution to the conflict could, for example, push prices slightly higher.