Ryanair CEO warns airlines could fail as fuel prices surge Michael O’Leary, chief executive of Ryanair, said some European airlines could collapse if jet fuel prices remain high through the summer amid disruption around the Strait of Hormuz. Michael O’Leary, chief executive of Ryanair, said some European airlines could collapse if jet fuel prices remain high through the summer amid disruption around the Strait of Hormuz. Michael O’Leary, chief executive of Ryanair, said some European airlines could collapse if jet fuel prices remain high through the summer amid disruption around the Strait of Hormuz.