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Jet Fuel Hits $150, Threatening European Airlines, Ryanair Says

4/29/2026

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Summary

Story summary

Ryanair CEO Michael O'Leary warned jet-fuel near $150 a barrel could force European airlines into failure this summer, noting Ryanair has hedged 80 % of its fuel.
Jet-fuel rose from $80 a barrel in March to $150 in April, averaging $179 for the week ending 24 April.
Lufthansa will cut 20,000 short-haul flights through October to save 40,000 metric tons of fuel while the European Commission launched “AccelerateEU” to monitor jet-fuel stocks.

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Story summary

Ryanair CEO Michael O'Leary warned jet-fuel near $150 a barrel could force European airlines into failure this summer, noting Ryanair has hedged 80 % of its fuel.
Jet-fuel rose from $80 a barrel in March to $150 in April, averaging $179 for the week ending 24 April.
Lufthansa will cut 20,000 short-haul flights through October to save 40,000 metric tons of fuel while the European Commission launched “AccelerateEU” to monitor jet-fuel stocks.