Jet fuel supply to Europe could be disrupted from June if the Middle East conflict does not end in ⁠the next month, Ryanair CEO Michael O’Leary warned.

He added that it could mean the airline and rivals will need to consider cancelling summer season flights.

O’Leary said the airline company is holding daily calls with all of its fuel suppliers across Europe to assess the situation, which the suppliers say will remain stable until the end of May.

“If this (the conflict) continues through to the end of April, we’re looking at a risk to supplies in early June. If it runs into May, then ⁠we don’t know what goes on,” O’Leary said.

“If there’s a risk to 10% ​or 20% ⁠of the fuel supply in June or July ‌or August, then we and other airlines will have to start looking at cancelling some flights or taking some capacity out.”

Chancellor Rachel Reeves and supermarkets are working to keep costs down and boost supply chains, as food bills are set to soar as much as 10 per cent this year as a direct consequence of the Iran war.

Tesco, Sainsbury’s, Aldi, Morrisons, Lidl, Co-Op, M&S, Iceland and Ocado were represented at the meeting with the Chancellor, as well as the British Retail Consortium.

A Government spokesperson said: “The Chancellor and Environment Secretary had a positive meeting with Britain’s leading supermarkets to discuss the economic impacts of the war in the Middle East.

“They agreed to work together to explore what more can be done to ease the cost of living for consumers and strengthen supply chains.”

Helen Dickinson, chief executive at the British Retail Consortium, said: “Retailers had a constructive meeting with the Chancellor.

“Supermarkets are doing everything they can to keep food prices affordable and maintain the ongoing resilience of their supply chains.

“While the conflict in the Middle East means some inflation is inevitable, there are domestic policy levers that Government can pull in order to mitigate some of the inflationary pressures.

“Industry is committed to working with Government to consider these further and on ways it can continue to support British households.”

It comes as the Food and Drink Federation (FDF), which represents 12,000 food and drink manufacturers, has hiked its inflation forecast for the year from 3.2 per cent to between nine and 10 per cent.

British RAF Regiment gunners have shot down 10 Iranian drones overnight.

The specialist soldiers shot down the aerial robot weapons as part of their duties while protecting British bases in the Middle East.

Elsewhere overnight into Wednesday, UK fighter jets, including Typhoons and F-35s, as well as Wildcat helicopters, have continued defensive missions in Cyprus, Jordan, Bahrain, Qatar and the United Arab Emirates.

A large island housing anti-ship missiles in the Strait has been briefed as a possible target of a ground offensive to break Iran’s grip, alongside key oil export hub Kharg Island.

James C Reynolds reports:

Talks of a potential ceasefire are taking place in exchange for the reopening of the Strait of Hormuz, Axios reporter Barak Ravid has reported on Wednesday.

It comes as sources said US vice president JD Vance has been talking to “intermediaries” about the Iran conflict as recently as Tuesday, according to Reuters.

He is reported to have delivered a “stern” message that Trump was impatient and warned of growing pressure on Iranian infrastructure.

Earlier we reported that Iran had denied talks of a ceasefire, calling the false and baseless according to Iranian state media.

Iran’s foreign ministry spokesperson has said that President Donald Trump’s statements on Tehran requesting a ceasefire are false and baseless, Iranian state TV reported on Wednesday.

Iran has said it would welcome Russia as a mediator to help resolve the conflict with the United States and Israel, according to Russia’s state‑run TASS news agency citing Iran’s envoy to Moscow, Kazem Jalali.

Pakistan had most recently taken a lead on negotiations after Gulf countries who had led peace talks prior to the outbreak of war were forced to rebuff Iranian attacks on their territory instead.