Ryanair warns European airlines may fail if jet fuel prices stay high this summer

Ryanair CEO Michael O'Leary warned that many European airlines could face financial failure if jet fuel prices remain elevated through the summer. While Ryanair is protected by hedging 80% of its fuel costs, other airlines are vulnerable as prices surged from $80 to $150 a barrel since March due to geopolitical tensions. O'Leary predicts that sustained high fuel prices could lead to airline failures, which may benefit Ryanair in the medium term. He also assured customers that Ryanair will not increase prices despite fuel cost surges.