Airports across Europe have warned that jet fuel supplies could run out within three weeks unless oil flows resume through the Strait of Hormuz, raising fears of widespread flight cancellations during the summer holiday season. The warning came from Airports Council International (ACI) Europe, which wrote to EU energy and transport commissioners stating that the bloc faces a 'systemic jet fuel shortage' if the passage does not reopen significantly and stably.
The crisis follows Iran's effective closure of the strait in retaliation for US and Israeli attacks, causing global jet fuel prices to more than double year-on-year to $1,650 a tonne. Europe, which sources over 60% of its jet fuel from Gulf refineries, is particularly vulnerable as alternative supply routes are limited. The last cargo of Gulf jet fuel for Europe arrived in Copenhagen on Saturday, with the final tanker for the UK reaching Kent on Tuesday.
Rico Luman, a senior economist at ING, warned that smaller airports with limited reserves could face cancellations within weeks. 'Smaller airports really rely on deliveries and the stocks they have on site,' he said, noting typical reserves cover only four to five weeks. He added that airlines would likely cut less popular leisure routes first.
Some airlines have already reduced services. Skybus closed its Newquay to London Gatwick route, while Aurigny cut Channel Islands flights. Ryanair CEO Michael O'Leary said the airline is considering cutting 10% of flights. A UK government spokesperson said British aircraft are operating normally but that they are engaging with carriers to limit passenger impact.
