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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

#551 Apr

Ryanair Warns of European Fuel Shortage

Iran Conflict 2026
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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

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.