<\/p>\n
Ryanair<\/a> has prepared for an “armageddon situation,” amid the jet fuel crisis, the budget airline’s chief financial officer told CNBC Monday.<\/p>\n “Do we have plans for some kind of Armageddon situation? Of course, we do, but I don’t see that coming to pass. As things stand, we’re operating a full schedule this summer, and plan to operate a full schedule into the winter period,” Neil Sorahan told CNBC’s Ritika Gupta<\/a> in an interview. <\/p>\n “I think we will see some of the weaker carriers who were already struggling before the war possibly go to the wall in the winter,” Sorahan said. <\/p>\n Shares were down 2.7% in early trading Monday after the airline reported full-year earnings. The stock is down 27.5% year-to-date. <\/p>\n The carrier has hedged 80% of its summer fuel at $668 per metric ton, citing “economic uncertainty” caused by the Middle East conflict and the ongoing blockade of the Strait of Hormuz. The 20% of unhedged fuel has “spiked” due to the volatility of prices. Sorahan said the airline is “not planning for cancelations.”<\/p>\n He told CNBC that he wouldn’t be surprised in the winter to see some European airlines “getting themselves into trouble,” in a similar scenario that occurred with Spirit Airlines<\/a>