The chief executive of Wizz Air has cast doubt on warnings that European airports could run out of jet fuel, arguing that high prices will encourage creative solutions. József Váradi told journalists in London that he did not expect fuel to run dry, despite repeated alerts from European officials.
Mr Váradi pointed to the current price of jet fuel, which he said had more than doubled since before the conflict to around $1,500 per metric tonne. He said this created room for innovation, adding that tankers were already travelling to the United States to bring fuel to Europe. “I don't think that everyone is just waiting and seeing what's going to happen,” he said.
The comments contrast with those of executives at rival carriers Ryanair and easyJet, who have said they have limited visibility of fuel supplies for the peak summer season. Mr Váradi acknowledged that if shortages did emerge, the situation would be messy and require management on a location-by-location basis, similar to the varying measures seen during the Covid pandemic.
He also suggested that “tankering” – carrying extra fuel for the return journey – could be used to offset supply gaps, even though the practice is currently penalised by the European Union due to increased fuel burn. Mr Váradi said such rules might be relaxed if shortages appeared.
Looking ahead, the Wizz Air boss predicted that jet fuel prices would remain elevated and that a significant amount of capacity would be withdrawn from the market in September and October.
