Ryanair CEO Warns Summer Flight Cuts, Fare Hikes as Jet Fuel Prices Surge

Ryanair CEO Michael O’Leary warned on April 03, 2026, that surging jet fuel prices driven by Middle East tensions could force European carriers to reduce summer flight schedules and increase passenger fares. O’Leary stated that a 10% to 20% supply disruption in June 2026 or July 2026 would likely compel airlines to cut capacity. U.S. jet fuel averaged $195 per barrel in early April 2026, with crude oil reaching $4 per gallon, the highest level since 2022. Delta Air Lines noted that a single cent per gallon increase costs approximately $40 million annually, while United Airlines and JetBlue have already implemented fare adjustments and ancillary fee hikes to offset costs. The UK faces heightened exposure due to its reliance on Kuwaiti crude. Despite Ryanair hedging 80% of its fuel requirements through March 2027 at $67 per barrel, executives cautioned that ongoing geopolitical volatility leaves carriers with limited control over operating expenses.