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Ryanair CEO Michael O'Leary: "Airlines are going to topple due to high oil prices"

Submitted
On May 22, Ryanair CEO Michael O'Leary told CNBC that he expects some of their European rivals to request payment deferral in the coming months. The high fuel costs mean that a number of airlines in the region would fail, according to the Irish executive (airlinerwatch.com) More...

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chris13
Chris Bryant 10
I didn't see a lot of airlines toppling when oil was north of $100/bbl.
I doubt it'll happen much now either.
tyketto
Brad Littlejohn 2
Not for nothing, but a lot of airlines, especially in the US, went bankrupt during that time:

National Airlines (ROK)
TransMeridian
Skybus
Midwest Express
ExpressJet
Midway Airlines
Legend Airlines
Champion Airlines
Aloha Airlines

And those aren't even counting those that started as offshoots of a major airline that got merged back into it (Song, for example), or had to merge with other airlines (American West, US Airways, etc.).

All of those went bust during the $100/barrel times, and it will get worse again if that happens.
sailsomsen
Hugh Somsen 3
RyanAir must operating right on the bubble.
bimjim
Jim Lynch 5
Why do journalists still take this clown seriously? Are there that many slow news days? He makes one ridiculous or patently obvious comment after another for publicity, and they seem to lap it up. Just blank the fool unless he says something intelligent... which may never happen.
Flightdog
Roger Curtiss 2
Doe anyone keep track of how many of O'Leary's statements and predictions ever come to fruition? He makes great headlines but the issues he speaks of usually fade away on their own.
Moviela
Ric Wernicke 2
From his lips to God's ear it is his airline.
C172Rpilot
C172Rpilot 0
Chris...agred!
Viperguy46
Jesse Carroll 0
FAKE NEWS!

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