Ryanair's CFO said the company has prepared for an "Armageddon situation" as jet fuel prices remain elevated and the Strait of Hormuz closed.
"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.
However, he said other companies likely won't be able to survive if the situation continues: "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," he added.
The company's CEO had already made a similar claim recently. Also speaking to CNBC, Michael O'Leary said the airline is protected because it had hedged 80% of its fuel but noted that others could face "real failures."
"Pricing has mushroomed since March. Jet A-1 was about $80 a barrel in March. It's now $150," O'Leary said. "I think there will be failures," O'Leary added. "If it continues at $150 a barrel into July, August, September, then you'll see European airlines fail and that, in the medium term, would probably be good for Ryanair's business."
Oil prices remain elevated as the Strait of Hormuz remains closed and there is no tangible progress in talks to end the war.
Iranian Foreign Ministry spokesperson Esmaeil Baghaei said the country has given its response to the latest U.S. proposal.
Baghaei said in a press briefing on Monday that the process will continue through the mediation of Pakistan, but clarified the country will not cede on uranium enrichment rights.
"What can be said with certainty is, first of all, that rights are not something we are to negotiate or compromise over," the official said. "There is no need for another party to recognize this right for Iran. This right already exists," he added.
President Donald Trump has threatened Tehran if negotiations don't move forward, saying the country will be hit "much harder" in such a scenario.
Trump said "the clock is ticking" for the country. "We want to make a deal. They are not where we want them to be. They will have to get there, or they will be hit badly, and they don't want that," he added.
Trump went on to say "the clock is ticking" for the country and warned: "They better get moving fast or there won't be anything left of them."
Israeli outlet Channel 12 reported last week that the country is preparing for the possibility that the war in Iran will resume soon. "The Americans understand that negotiations with Iran are going nowhere," a senior official said.
