Chinese deals & jet fuel: U.S. Ambassador to China & RyanAir CEO - 05/18/26 | Audio Only

Summary

U.S. Ambassador to China David Perdue discusses the recent Trump-Xi summit, trade agreements, and the unchanged U.S. policy on Taiwan. RyanAir CEO Michael O'Leary shares record earnings, explains how RyanAir is well-hedged against high jet fuel costs, and warns of potential airline bankruptcies in Europe if the Strait of Hormuz remains closed.

• Ambassador Perdue highlights the successful trade agreements including Boeing planes, GE engines, and agricultural purchases from China.
• Perdue reiterates that U.S. policy on Taiwan remains unchanged, emphasizing no support for independence and no coercion.
• Michael O'Leary reports record annual profits for RyanAir, driven by strong passenger growth and fuel hedging at $67/barrel.
• RyanAir is 80% hedged on jet fuel through March 2027, giving it a major advantage with spot jet fuel near $150/barrel.
• O'Leary warns that poorly hedged European airlines could face bankruptcies if high oil prices and the Strait of Hormuz closure persist.
• RyanAir is debt-free, has a 650-aircraft fleet, and has ordered 300 Boeing Max 10s for future growth.
• O'Leary criticizes European environmental taxes on intra-European flights as counterproductive.
• The host segment also covers Berkshire Hathaway's 13F filing, Swatch watch frenzy, and market conditions.