Market Chatter: Ryanair CEO Says Fuel Supply at Risk if Middle East Conflict Continues

MT Newswires Live04-01

Ryanair (RYAAY) Chief Executive Officer Michael O'Leary said 10% to 25% of the company's jet fuel supplies might be disrupted in May and June if the conflict in the Middle East continues, Sky News reported Wednesday.

The airline is "reasonably well hedged" on 80% of its fuel, but is seeing costs on the remaining 20% almost double, Sky News said, citing O'Leary.

"If the war finishes by April and the Strait of Hormuz reopens, then there is almost no risk to supply," Sky News quoted O'Leary as saying.

However, the executive said he does not expect any flight cancellations, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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