Tui, Europe’s largest holiday company, has moved to allay fears of aviation fuel shortages affecting summer flights amid the ongoing conflict in Iran. Chief Financial Officer Mathias Kiep stated that the company sees no shortage in the coming weeks and expects no impact on summer operations beyond potential price increases, for which Tui is hedged.
Speaking as Tui reported its financial results for October 2025 to March 2026, Kiep described the fuel shortage discussion as “a little bit artificial,” noting that Europe is sourcing more oil from countries like Nigeria due to increased production profitability. He added that consumption is significantly lower than a year ago and refinery capacity has increased, ensuring supply even if the Strait of Hormuz remains closed long-term.
A UK government spokesperson echoed this confidence, stating that airlines are not currently experiencing jet fuel shortages. Aviation fuel is typically bought in advance, and airports and suppliers maintain bunkered fuel stocks for resilience. The government continues to work with fuel suppliers, airports, airlines, and international partners to keep flights operating.
Tui reported a “very successful” first half of its financial year but warned that the second half will require “great dedication and flexibility.” The Iran conflict delivered a €40m (£35m) hit to profits from lost sales and repatriation costs, while Hurricane Melissa in Jamaica cost €5m (£4.3m). Cruise occupancy fell from 97% to 93% due to two ships being stuck in the Gulf for 10 weeks.
Summer air bookings are 7% below last year, with customers booking two to three weeks in advance rather than months. However, Tui has seen no decline in travel intention or shift from air to surface transport, and the hantavirus scare has not affected cruise demand. Chief Executive Sebastian Ebel emphasised that the package holiday remains the “gold standard” for security and quality in turbulent times.
