Ryanair CEO Says Europe's Jet-Fuel Supply Stable

(MENAFN) Surging jet fuel prices driven by escalating Middle East tensions are rattling global aviation markets, but Ryanair says its strategic hedging position will shield the Irish budget carrier from the worst of the turbulence.

Speaking Monday, Ryanair Chief Executive Michael O'Leary offered a cautiously optimistic outlook on European supply chains despite mounting pressure on global energy markets. "Europe remains relatively well supplied with jet-fuel, with significant volumes sourced from West Africa, the Americas and Norway," he said.

The remarks came as spot prices for jet fuel surged past the critical $150-per-barrel threshold — a sharp spike that analysts warn could squeeze airline margins worldwide. O'Leary cited deepening uncertainty over the Strait of Hormuz, a vital artery for global energy shipments whose closure timeline remains unknown, as a key driver of market instability.

The carrier's conservative fuel-hedging strategy, O'Leary stressed, is designed precisely to buffer group earnings against the kind of extreme oil-market volatility currently gripping the industry.

Despite the turbulent backdrop, Ryanair reported robust first-quarter 2026 financials. Group revenue surged 11% year-on-year to €15.54 billion — approximately $18 billion — with scheduled revenue climbing a sharper 14% to €10.56 billion. Passenger traffic expanded 4%, while average fares rose a striking 10%, signaling resilient consumer demand even as geopolitical headwinds intensify.

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