Willie Walsh

If you were a small airline, weak balance sheet, you weren't able to hedge, you would have been hit by a very significant increase in the fuel bill.

And quite honestly, there are some airlines out there that unfortunately will not survive through this period.

With the significant impact to disruption in the Gulf and the very significant impact on oil prices, we're now forecasting lower growth, principally as a result of the negative impact in the Gulf, and then much higher costs for the industry.

Fuel bill will be about US$100 billion higher.

I think there will be periods later on in this year where the supply will get very tight because it's been impacted by the

the crude supply and then by refining capacity.