Ryanair CEO Michael O’Leary: Aviation Fuel Shortage Risks in Europe Decreased, but Summer Ticket Sales Threatened by Iran War

Ryanair Holdings Plc CEO Michael O’Leary expressed less concern regarding a potential aviation fuel shortage in Europe in the coming months. However, he noted that summer ticket sales might decline due to uncertainty related to the war in Iran.

O’Leary made this statement at the annual Norges Bank Investment Management conference in Oslo, citing Bloomberg, as reported by «European Pravda». According to him, fuel supplies have improved over the past three weeks, with production in the US, North Africa, and Norway compensating for the lack of volumes from the Middle East. «Oil companies are less concerned about this. They are now stating that there is no risk of supply disruptions until early or mid-June,» he emphasized.

Furthermore, the Ryanair CEO noted that while bookings for April and May are high, there are signs that the conflict is causing customers to hesitate with booking flights for the period from June to August. «We believe many people are waiting. They are not yet sure,» O’Leary added.

The war in Iran has raised concerns about the operations of airlines in Europe due to the potential for fuel shortages, as significant volumes previously came from the Middle East. Against this backdrop, Lufthansa Group announced a large-scale reduction in its summer schedule due to record increases in aviation fuel prices. European Commissioner for Energy Kadri Simson stated that the EU is considering obliging countries to create aviation fuel reserves and possibly redistribute them to address regional needs and shortages. The Dutch airline KLM also announced a small number of cancellations — approximately 160 flights within Europe over the next month.