Summer holidays could be disrupted unless oil flows through the Strait of Hormuz resume within three weeks, airports have warned. Jet fuel shortages are expected to become so severe that flight cancellations across Europe will be inevitable, potentially affecting millions of passengers.
The Airports Council International (ACI) Europe has written to EU energy and transport commissioners, stating that the bloc is only three weeks away from a systemic shortage of jet fuel. This warning follows the closure of the Strait of Hormuz by Iran in retaliation for US and Israeli attacks, causing oil prices to surge.
Jet fuel prices have more than doubled compared to last year, reaching $1,650 per tonne globally. European prices are up 138%. Smaller airports, which rely on deliveries and have limited reserves, are particularly vulnerable. Some airlines have already cancelled flights, including Skybus on the Newquay to London Gatwick route and Aurigny on Channel Islands services.
A UK government spokesperson said British aircraft have not reported any disruption to fuel supplies and are operating normally, but they are engaging with carriers to support operations. However, Ryanair's CEO Michael O'Leary has indicated the airline is considering cutting 10% of its flights.
The last cargo of European jet fuel to pass through the Strait of Hormuz before the war is due to arrive in Copenhagen, while a tanker carrying Gulf jet fuel for the UK arrived in Kent earlier this week. Europe typically sources more than 60% of its jet fuel from Gulf refineries, with over 40% shipped through the Strait of Hormuz, leaving the region exposed to disruption.
