Ryanair CEO warns Wizz Air, airBaltic face winter bankruptcy

Sunday, 3 May 2026/Source: CretaOne/1 min read

Ryanair CEO Michael O'Leary has warned that two or three European airlines could go bankrupt this coming winter, specifically naming Wizz Air and airBaltic as companies facing financial difficulties. O'Leary cited ongoing cost pressures, engine supply shortages, and thin profit margins as key factors putting smaller carriers at risk. For tourists planning travel to and from Crete, this is worth noting if you have booked flights with Wizz Air, which operates routes to Heraklion (HER) and Chania (CHQ) from multiple European cities. If an airline collapses, passengers typically lose unbonded tickets and must rebook independently. Practical advice: check whether your travel insurance covers airline insolvency, consider booking with a credit card for added purchase protection, and monitor your airline's status in the months ahead if you have bookings for late 2025 or early 2026.