European airlines have enough fuel for summer, says Ryanair boss Michael O’Leary

European airlines have enough fuel for the summer, according to Ryanair chief executive Michael O’Leary.

The airline boss conceded that his group had been “very worried” two months ago about a shortage of jet fuel.

Europe is now sourcing fuel from west Africa, the Americas and Norway, cutting dependence on the blocked Strait of Hormuz, O’Leary said.

But he warned that prices have risen, from around $70 (€60) a barrel before the Middle East conflict erupted in February to hit about $140 at one stage.

Ryanair has bought 80 per cent of what it needs up to the end of March next year at about $67 a barrel, but will still have to foot the bill for the other 20 per cent.