Michael O'Leary, CEO of Dublin-based low-cost airline Ryanair, has warned of looming plane bankruptcies due to current jet fuel prices. This comes as airlines such as Delta, Air Canada, KLM, and Lufthansa have all canceled routes and shut down their regional airline CityLine a year earlier than planned. U.S. airlines including JetBlue, American Airlines and United have also raised the price of checking a bag to avoid airfare increases. O’Leary warned that while most European airlines have their fuel supply needs covered throughout the summer, this could increase to $600 million within a year. He also named airlines that he believes will struggle with oil prices to the point of bankruptcy.