Ryanair boss Michael O'Leary says airline having to lower fares to boost summer demand 

Expects no cancellations due to fuel crisis

Ryanair does not expect disruption to jet fuel supplies in Europe this summer but is still having to lower fares to boost travel demand for later this summer, with some customers hesitant about booking holidays, chief executive Michael O'Leary said on Thursday.

Ryanair does not expect disruption to jet fuel supplies in Europe this summer but is still having to lower fares to boost travel demand for later this summer, with some customers hesitant about booking holidays, chief executive Michael O'Leary said on Thursday.

Mr O'Leary added that he did not think Ryanair would have to cancel any flights in Europe during the summer months due to the impact of the Middle East conflict on fuel prices and availability.

The Ryanair boss warned profits may come under "a bit of pressure" in its fiscal year to the end of March 2027 if oil prices remain high. "We're about to report multi-billions of profit next Monday (for the year to end-March 2026). Our profits may well be under a bit of pressure for the next 12 months if oil prices remain high for longer," Mr O'Leary told a news conference at the airline's headquarters in Dublin.

European airlines, airports, and tour operators have been striking a more bullish tone on jet fuel supply this week, despite one of the worst crises in decades which has driven prices to double from pre-Iran war levels as the conflict snarls oil flows via the Strait of Hormuz. The Gulf supplies around a quarter of Europe's jet fuel.

"There are always people who want to take a stand - we're running out of fuel. There's absolutely no indication of that," said Sebastian Ebel, CEO of Europe's largest tour company TUI, after presenting quarterly results. "We think the discussion on fuel is a little bit artificial as we do see no shortages for the next weeks, and I would also see no impact in the summer at all, except prices."

Dublin Airport managing director Gary McLean said this week that the airport was seeing no impact on supply "in the short term". "We're not hearing of any kind of concern on that for summer," Mr McLean said.

The International Energy Agency warned on Wednesday global oil supply will not meet demand this year as the conflict wreaks havoc on Middle East production.

Reuters