Ryanair said it has hedged 80% of its summer fuel and isn't anticipating summer cancelations. The budget carrier saw its profit after tax increase 40% to nearly 2.3 billion euros ($2.7 billion) in the year ending in March.
Ryanair on Monday warned that economic uncertainty looks likely to wipe out any growth in fares during its peak summer months as the Irish airline reported profit for the year to March slightly ahead of expectations.
After Spirit Airlines vanished from the skies, its not-quite-sudden collapse raised questions about why the successful low-cost model, born in the U.S. airline industry, is failing.
Europe faces an acute logistics problem as the Iran war severely restricts flows from the Middle East. The International Energy Agency earlier this month warned that Europe could run out of jet fuel in weeks.
Spirit Airlines is on the brink of collapse and is warning of possible liquidation. If Spirit disappears, travelers are likely to feel the impact quickly.