According to Ryanair's CEO Michael O'Leary, which European airlines are at risk of failure due to a prolonged closure of the Strait of Hormuz, and why?

Michael O'Leary stated that Wizz Air Holdings Plc and Air Baltic Corp. are at risk of failure if the Strait of Hormuz remains restricted until November, as this would sustain a sharp rise in jet fuel prices. He warned that such conditions could lead to 'airlines failing all over Europe' and explicitly named Wizz Air as 'a candidate for failure'. He further underscored the fragility of Air Baltic’s position by sarcastically commenting on the Latvian government’s €30 million loan — noting the difficulty of repayment by the end of August — implying severe near-term liquidity pressure.

What is Ryanair's stance on acquiring other European airlines amid the current crisis, and what acquisition interest—if any—did CEO O'Leary express?

Ryanair CEO Michael O'Leary said he is 'not looking for consolidation candidates' and bluntly stated, 'There is nothing in Europe you’d want to buy', indicating no interest in acquiring distressed airlines. However, he clarified that Ryanair would be willing to buy airplanes if they were sold off by failing carriers, signaling selective opportunism focused solely on aircraft assets—not airline businesses or brands.

Ryanair Sees European Airline 'Casualties' on Jet Fuel Spike

May 18, 2026

Ryanair CEO warns of European airline failures due to jet fuel price spikes caused by Iran war and Strait of Hormuz restrictions, highlighting financial risks for carriers like Wizz Air and Air Baltic.

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