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Ryanair Holdings PLC has ‘very significantly extended’ its fuel hedges for the next two financial years to take advantage of lower oil prices, Chief Executive Michael O’Leary told the Financial Times in an interview.
The Dublin-based budget airline has not yet seen any changes to booking patterns as a result of the US trade tariffs, O’Leary said, the newspaper reported on Wednesday. ‘We don’t see anything this summer in Europe,’ he told the FT.
The price of jet fuel has fallen by 10% so far in April, as the price of crude oil has been hurt by worries about the impact of US trade tariffs on the global economy, the FT noted, and O’Leary said both Ryanair and its customers will benefit from the lower prices.
Ryanair shares were up 7.2% to €20.20 in Frankfurt on Wednesday.
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