Ryanair Sees European Airline 'Casualties' on Jet Fuel Spike
Neil Sorahan said weaker carriers could go to the wall as jet fuel costs climb and airlines face more liquidations like Spirit Airlines.
11 Articles
11 Articles
Ryanair Group CEO Michael O’Leary on jet fuel crisis: Expect airline bankruptcies in Europe
Ryanair Group CEO Michael O’Leary, joins 'Squawk Box' to discuss the company's quarterly earnings results, impact of rising jet fuel costs, Europe's energy policies, state of travel demand, and more.
More airlines could follow Spirit into bankruptcy due to the Iran war fuel crisis, Ryanair exec says
Spirit Airlines ceased operations earlier this month, citing increasing fuel prices.Rebecca Noble/Getty ImagesRyanair's CFO warned that more airlines could go bankrupt due to rising fuel costs.He told CNBC the airline has plans for an "Armageddon situation" but doesn't expect that to pass.Spirit Airlines ceased operations earlier in May citing rising fuel costs as a major issue.Surging jet fuel prices could mean some airlines going out of busine…
Michael O'Leary may have to work at the age of 71, but he must have been in line with the length of the contracts. After Ryanair renews its profits, the CEO must be in line with a new contract.
Ryanair CFO Neil Sorahan says that some airlines in Europe will likely not survive the kerosene crisis this year. Ryanair itself is prepared for an "apocalyptic situation." The low-cost carrier has surprisingly increased its annual profit but is not making any forecasts.
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