Mr O’Leary was speaking after US President Donald Trump said he could walk away from the conflict in Iran in two or three weeks whether or not Tehran agrees to a ceasefire.
The Ryanair boss said jet fuel supplies could be disrupted in the coming months if the war in Iran continues.
He told Sky News: “The fuel companies are happy there won’t be any disruption until early May.
“But if the war continues, we do run the risk of supply disruptions in Europe in May and June and obviously we hope the war will finish sooner than that and that the risk to supply will be eliminated.”
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Asked about the impact of such shortages, he said: “It’s almost impossible to know. If the war finishes and the Strait of Hormuz is opened by the middle or end of April, then there’s no risk to supply.
“If the war continues, and the disruption to supply continues, we think there is a reasonable risk that maybe 10%, 20%, 25% of our supplies might be at risk through May and June.
“So, like everybody else in the industry, we hope this war ends sooner rather than later.”
In a televised message to the American people overnight, Donald Trump said countries which rely on the vital Strait of Hormuz shipping lane for oil should “build up some delayed courage” and “just grab it”.
He said: “The countries of the world that do receive oil through the Hormuz strait must take care of that passage. They must cherish it. They must grab it and cherish it. They can do it easily.
“We will be helpful, but they should take the lead in protecting the oil that they so desperately depend on.
“So to those countries that can’t get fuel, many of which refused to get involved in the decapitation of Iran, we had to do it ourselves.”
He continued: “I have a suggestion. Number one, buy oil from the United States of America. We have plenty. We have so much, and number two, build up some delayed courage. Should have done it before. Should have done it with us as we asked, go to the strait and just take it, protect it, use it for yourselves.
“Iran has been essentially decimated. The hard part is done, so it should be easy.
“And in any event. When this conflict is over, the strait will open up naturally.
“It’ll just open up naturally. They’re going to want to be able to sell oil, because that’s all they have to try and rebuild. It will resume the flowing and the gas prices will rapidly come back down.”
