"O'Leary highlighted the UK as the most vulnerable country in Europe to potential supply disruptions, citing the nation's heavy reliance on Middle Eastern oil and gas. 'Of all the European countries at the moment, the one that is most vulnerable is the UK, because [of] the market share that the Kuwaitis have here in the UK,' O'Leary said."
"'If it runs into May, then we don't know what the f*** goes on.' The crisis has already caused jet fuel prices to more than double, largely because jet fuel requires a higher proportion of crude oil for refining than petrol or diesel."
"'We can handle, we think, the pricing issue, but if there's a risk to 10 or 20% of the fuel supply in June or July or August, then we and all other airlines will have to start looking at cancelling some flights or taking some capacity out,' O'Leary added."
Michael O'Leary, CEO of Ryanair, warned that British holidaymakers could experience flight cancellations this summer due to jet fuel supply issues stemming from the conflict in Iran. The UK is particularly vulnerable due to its reliance on Middle Eastern oil, especially from Kuwait. While assurances of stable supplies exist until mid-May, prolonged conflict could threaten availability later in the summer. Jet fuel prices have already surged, and airlines are preparing for potential disruptions, with some considering flight cancellations if fuel supply risks materialize.
Read at London Business News | Londonlovesbusiness.com
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