Two million airline seats have been cut from May schedules globally as airlines grapple with soaring jet fuel prices amid the Middle East conflict, according to aviation analytics firm Cirium. The cuts, representing about 13,000 fewer flights, equate to less than 2% of global capacity, but fears persist over long-term fuel supply disruptions that could lead to further summer cancellations.
Lufthansa has made swingeing cuts, with its CityLine subsidiary cancelling 20,000 short-haul flights. Istanbul and Munich airports have recorded the biggest drops in flight numbers. The price of jet fuel has more than doubled since the US-Israel attack on Iran and the closure of the Strait of Hormuz.
UK airlines, including EasyJet and Wizz Air, have pledged to operate full summer schedules, citing hedging on fuel costs. However, analysts at Goldman Sachs warn that the UK is the most exposed European nation as the largest net importer of jet fuel, with low inventories and high import reliance. Stocks could fall to critically low levels, increasing the likelihood of rationing measures.
The UK government has announced contingency measures to avoid late disruption for holidaymakers, including relaxing slot rules to allow airlines to consolidate flights on popular routes. Transport Secretary Heidi Alexander stated there are no immediate supply issues but that the government is preparing to give families long-term certainty and avoid disruption at the departure gate this summer.
UK refineries have been asked to maximise jet fuel production, but ministers have resisted industry requests for tax cuts or reduced environmental and noise regulations. The International Energy Agency has predicted Europe could face jet fuel shortages if the Middle East war continues to disrupt supplies.
