An airline executive has revealed that the industry is bracing for a Trump-inflicted jet fuel crisis, calling it a potential “armageddon situation” for airlines that are already struggling.
“Do we have plans for some kind of Armageddon situation? Of course, we do, but I don’t see that coming to pass. As things stand, we’re operating a full schedule this summer, and plan to operate a full schedule into the winter period,” Neil Sorahan, the chief financial officer of European budget carrier Ryanair, told CNBC on Monday.
“I think we will see some of the weaker carriers who were already struggling before the war possibly go to the wall in the winter,” he continued, singling out the bankruptcy of Spirit Airlines as something that could happen in Europe to similarly exposed carriers.
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