Michael O'leary on Brexit
From Ryanair's Michael O'Leary, tractor NCT and farming in NZ and Ukraine - Podcast Ep. 103 · · Irish Farmers Journal
“I don't think anybody in the UK has yet realized how weak their negotiating position is and how difficult the Europeans going to be to deal with. And I think the problem is that the UK was sold a pup by the Brexiters that you can leave Europe and nothing will change and I think they're about to find out in the next 18 months that you can leave Europe and everything is going to change.”
On , Michael O'leary, Group Chief Executive Officer & Executive Director at Ryanair, spoke about Brexit during Ryanair's Michael O'Leary, tractor NCT and farming in NZ and Ukraine - Podcast Ep. 103 on Irish Farmers Journal.
About Michael O'leary
Ryanair CEO Michael O’Leary said Ryanair had hedged 80% of its fuel at about $67 a barrel through March 2027, insulating it from the recent spike in jet fuel prices that he attributed to the conflict in Iran and the closure of the Strait of Hormuz. He warned that if oil prices remained elevated and the strait stayed closed through September or October, there would be “airline bankruptcies in Europe” among unhedged competitors such as Wizz Air and Air Baltic. O’Leary described Ryanair’s record full‑year results—208 million passengers and €2.26 billion profit after tax—and said the airline planned to grow to 300 million passengers annually with a 300‑aircraft Boeing 737 MAX 10 order, with first deliveries expected in spring 2027. O’Leary criticized European aviation taxes, calling the EU’s Emissions Trading System “the dumbest taxation known in humankind” and arguing that it penalizes intra‑European travel while exempting non‑EU routes. He also opposed the UK’s increase in Air Passenger Duty and called on the European Commission to improve competitiveness by reducing environmental taxes and reforming air‑traffic control. He expressed support for the Mercosur trade deal, stating that free trade benefits the Irish economy and agriculture. On the war in Ukraine, O’Leary said he supported NATO’s activity but criticized the Trump administration for not being “forceful behind Ukraine.” In interviews, he also discussed his beef‑farming operation and described his public persona as a deliberate strategy for generating free publicity, while noting that Ryanair avoids making jokes about safety.