Major airlines including Ryanair, EasyJet, TUI and Jet2 have issued updates to passengers amid concerns over jet fuel supplies following the Middle East crisis. Oil prices surged after US-Israeli airstrikes on Iran on February 28 and Iran's subsequent closure of the Strait of Hormuz, through which 20% of the world's oil passes. A temporary ceasefire remains fragile.
TUI has assured passengers that services will proceed, though prices may rise. CFO Mathais Kiep stated that adequate fuel is secured for the next 10 weeks, and hedging measures may offset operational threats. The carrier anticipates fare adjustments rather than service disruptions.
Ryanair said it has 'almost zero concerns' about jet fuel supplies for summer, citing plentiful alternative sources across Europe. However, it warned that flights booked later in summer may be more expensive. EasyJet confirmed operations continue unaffected and launched its 'Book With Confidence Promise', locking in prices after booking to shield passengers from fuel surcharge fluctuations.
Jet2 has seen increased demand for holiday packages, with Chief Executive Steve Heapy noting that packages provide reassurance during uncertain times. The aviation sector reports no current shortages, given typical six-week forward visibility of supply, but international bodies warn Europe could face shortages if the conflict persists.
The UK Government has suggested preventative measures, such as consolidating timetables on routes with multiple daily flights. Transport Secretary Heidi Alexander confirmed no 'immediate supply issues' but said the government is preparing to give families long-term certainty and avoid disruption at the departure gate this summer.
