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Ryanair

Europe's largest airline; warned of jet fuel shortages from the Iran war.

Last refreshed: 2 April 2026

Key Question

Will the Iran war cancel European summer flights?

Timeline for Ryanair

#55 1 Apr

Ryanair Warns of European Fuel Shortage

Iran Conflict 2026
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Background

Ryanair CEO Michael O'Leary warned on 1 April 2026 that European jet fuel supply could run short from May if the Iran war continues past April. 25-30% of Europe's jet fuel originates in the Persian Gulf.

Europe's largest airline by passenger numbers, Ryanair operates over 3,000 daily flights across 40 countries. The airline hedged 80% of its fuel at pre-war prices but pays roughly $195 per barrel on the remaining 20%, more than double the pre-war benchmark of $85-90.

O'Leary's warning is the first from a major European airline CEO to frame the war as a direct threat to summer flight schedules. If Gulf jet fuel supply does not normalise, cancellations across European carriers become likely from June.

Common Questions
Will the Iran war affect summer flights?
Ryanair's CEO warned European jet fuel could run short from May. 25-30% of Europe's supply comes from the Gulf. Summer cancellations are possible from June.Source: background
How much has jet fuel increased because of the war?
The global jet fuel benchmark more than doubled from $85-90 to roughly $195 per barrel. Ryanair pays this on 20% of its fuel (80% is hedged).Source: quick_facts
Is Ryanair cancelling flights because of Iran?
Not yet. CEO O'Leary warned on 1 April 2026 that cancellations are possible from June if Gulf fuel supply does not normalise.Source: background