London: Evaluating the global jet fuel crisis, which has sharply increased due to ongoing tensions in the Middle East, Irish low-cost air carrier Ryanair's CEO stated, "Europe remains relatively well supplied with jet-fuel, with significant volumes sourced from West Africa, the Americas, and Norway." The conflict in the Middle East has created economic uncertainty, and the reopening of the Strait of Hormuz remains uncertain, Michael O'Leary said on Monday.

According to Anadolu Agency, global jet-fuel spot prices have spiked to over $150 per barrel. However, Ryanair's conservative jet-fuel hedging strategy is expected to insulate group earnings amidst the volatile oil markets. O'Leary highlighted Ryanair's financial resilience, noting that group revenue rose 11% to £15.54 billion ($18 billion) in the first quarter of 2026. Scheduled revenue increased by 14% to £10.56 billion as traffic grew by 4% alongside a 10% increase in fares.