"Do we have plans for some kind of Armageddon situation? Of course, we do, but I don't see that coming to pass. As things stand, we're operating a full schedule this summer, and plan to operate a full schedule into the winter period,"
"despite the fuel crisis, RyanAir may be insulated from the worst of the effects of spiking oil prices because it has hedged 80% of its summer fuel at an even lower price than it paid for fuel last year. And as a result, he doesn't foresee any cancellations this summer or any sort of fuel surcharge added to fares, even though price increases may not be out of the question."
"We haven't promised no price increases. We price to fill the planes and the consumers pretty much decide what that pricing is going to be."
"The strain on oil supply caused by the war and Iran's grip on the Strait of Hormuz, through which 20 million barrels of oil passed daily before the war, has skyrocketed the price of Brent crude to about $111 per barrel, around 18% higher than the price a month ago."
Persistently high jet fuel prices tied to an Iran-related conflict could worsen conditions for airlines already under strain and may lead some to go out of business in winter. Ryanair’s CFO said the company has contingency plans for an extreme “Armageddon” scenario if the U.S.-Iran conflict escalates. Ryanair is operating a full schedule for summer and plans to continue into winter. The company hedged 80% of its summer fuel at a lower price than last year, reducing the immediate impact of fuel spikes. Ryanair does not rule out future fare price increases, but it expects consumers to determine pricing and does not anticipate cancellations or fuel surcharges this summer. Brent crude has risen to about $111 per barrel amid supply strain from the Strait of Hormuz.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]