US Edition
Published • loading... • Updated
Ryanair Sees Jet Fuel Supply Disruption From May if Middle East War ...
Ryanair said 80% of its fuel is hedged, but O'Leary warned the remaining supply could face higher costs and disruption if the war continues.
- On Wednesday, Ryanair chief executive Michael O'Leary warned that European travelers could face severe jet fuel supply disruptions starting in early May if the Middle East conflict continues beyond April.
- The potential shortage stems from Iran's effective blockade of the vital Strait of Hormuz, a critical shipping lane for global oil and liquefied natural gas essential to global energy markets.
- While Ryanair remains reasonably well hedged on about 80% of its fuel, the airline pays around $150 a barrel for the remainder, with O'Leary estimating a 10% to 25% risk to supply through June.
- An Airlines UK spokesperson said carriers are "currently not seeing disruption to jet fuel supply," while Business Secretary Peter Kyle emphasized the country remains well supplied with critical infrastructure and fuel at this moment.
- EU energy commissioner Dan Jorgensen warned that "demand reduction is necessary" as the situation might worsen, with the bloc preparing to secure oil supplies amid potentially prolonged energy price effects from the conflict.
Insights by Ground AI
29 Articles
29 Articles
O’Leary warned that the conflict in the Middle East could affect fuel supply in Europe during May and June. The ECO estimates the risk between 10% and 25%. The company does not provide for the cancellation of flights.
·Portugal
Read Full Article
Coverage Details
Total News Sources29
Leaning Left7Leaning Right5Center6Last UpdatedBias Distribution39% Left
Bias Distribution
- 39% of the sources lean Left
39% Left
L 39%
C 33%
R 28%
Factuality
To view factuality data please Upgrade to Premium
