Ryanair's profits surged by 40% to €2.3 billion for the fiscal year ending in March. The company has hedged 80% of its summer fuel needs and does not anticipate any cancellations. However, the CFO warned that weaker European carriers may not survive the fuel crunch. Meanwhile, Berkshire Hathaway made a $2.6 billion investment in Delta, and a lawyer for Spirit Airlines apologized to Americans priced out of air travel after the budget carrier's sudden shutdown.
The sudden shutdown of budget carrier Spirit Airlines has reduced low-cost travel options, leading company legal counsel to apologize to impacted American travelers.
Read the full storyBerkshire Hathaway initiated a $2.6 billion position in Delta Air Lines during Q1, signaling a major strategic return to the airline industry under CEO Greg Abel.
Michael O'Leary warns that a prolonged closure of the Strait of Hormuz could trigger failures among airlines with weak balance sheets.
The low-cost carrier reported a significant profit boost driven by operational strength, while its CFO warned of a potential fuel crunch facing industry competitors.
Spirit Airlines' legal counsel issued a formal court apology to travelers facing higher summer flight prices as the low-cost carrier exits the market.
The European low-cost carrier reported record annual profits while leveraging a 80% fuel hedge for summer to gain a competitive edge over struggling regional rivals.