Heads of Wizz Air and Ryanair Predict Bankruptcy of European Airlines by Autumn

The heads of two major European airlines have stated that bankruptcies are inevitable, and should be expected as early as this fall.

The CEO of Hungarian low-cost carrier Wizz Air claims that rising jet fuel prices are making many companies unprofitable: the fuel price has risen from $830 per ton to $1,840 in two months.

The CEO of low-cost carrier Ryanair shares this opinion, believing, in particular, that at least two major airlines will fall victim to the crisis.

The most likely candidates for the economic cataclysm are Latvian airBaltic and Wizz Air itself.

Experts believe that other carriers, backed by states and governments, will not go bankrupt, but will be forced to cut thousands of flights.