Ryanair boss predicts tough months ahead due to rising oil prices

Published: Updated:
Enable Read mode
100% Font Size

The next 12 months will be “very difficult” for most airlines after Russia’s invasion of Ukraine pushed up oil prices above $100 a barrel, Ryanair boss Michael O’Leary said on Wednesday as he reassured that the Irish airline was comfortably hedged.

“I think it’s going to be very difficult for most airlines for the next 12 months,” O’Leary told Sky News.


“We have hedged out about 80 percent of our fuel needs out to March 2023. So for this summer, and for the rest of this year, we’ll still be able to pass on low oil prices and low fares to our customers because we have a very strong fuel hedging position.”

For the latest headlines, follow our Google News channel online or via the app.

Read more:

UAE’s Air Arabia to operate Russia flights as long as legal

World's largest plane destroyed by Russian strikes in Ukraine

Wizz Air suspends Ukraine operations, trying to evacuate staff, planes

Top Content Trending