The Ryanair CEO believes some airlines may go bust within months over soaring jet fuel costs.

13:10, Fri, May 1, 2026 Updated: 13:18, Fri, May 1, 2026

Michael O’Leary

Michael O’Leary is the CEO of Ryanair (Image: Getty)

The Ryanair CEO has warned there is no "100% guarantee" Europe won't face supply issues from June onwards, as the jet fuel crisis looms.

Fuel costs increased and more than doubled since the start of the war in Iran in February and many airlines around the world have reduced the number of their flights or increased prices.

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Rynair's chief Michael O'Leary, speaking to POLITICO, said the situation is "modestly improving at the moment," but could not rule out supply issues in the near future.

O'Leary said: “Our suppliers, which are all the major oil companies, are saying, ‘We don't see any significant issues until about early June.'”

But “nobody is telling us there's a 100 percent guarantee out into June, July and August,” he also said.