Türkiye, İstanbul
Evaluating global jet fuel crisis, which increased sharply related to ongoing tensions in the Middle East, Irish low-cost air carrier Ryanir’s CEO said: “Europe remains relatively well supplied with jet-fuel, with significant volumes sourced from West Africa, the Americas and Norway.”
The conflict in the Middle East has created economic uncertainty and we still don’t know when the Strait of Hormuz will reopen, Michael O’Leary said on Monday.
Reminding that global jet-fuel spot prices have spiked to over $150 per barrel, he said Ryanair’s conservative jet-fuel hedging strategy will insulate group earnings in the current very volatile oil markets.
Group revenue rose 11% to €15.54 billion ($18 billion) in the first quarter of 2026, he said, adding that scheduled revenue increased 14% to €10.56 billion as traffic grew 4% with 10% higher fares.
