Airports across Europe have warned that jet fuel supplies could run dry within three weeks if the Strait of Hormuz remains effectively closed, raising fears of flight cancellations during the summer holiday season. The warning came from Airports Council International (ACI) Europe, which wrote to the EU's energy and transport commissioner stating that the bloc is three weeks away from shortages.
Jet fuel prices have more than doubled compared to last year, reaching $1,650 a tonne, according to data from the airline lobby group Iata. The price surge follows Iran's closure of the strait in retaliation for US and Israeli attacks. Although US President Donald Trump announced a two-week ceasefire, Brent crude oil remained at about $96 a barrel on Friday, up from $72 before the conflict.
Europe typically sources over 60% of its jet fuel from Gulf refineries, with more than 40% shipped through the Strait of Hormuz. The disruption has forced European buyers to compete with Asia for alternative cargoes. The last cargo of European jet fuel to pass through the strait before the war is due to arrive in Copenhagen on Saturday, while the final tanker destined for the UK arrived in Kent on Tuesday.
Rico Luman, a senior economist at ING, said smaller airports with limited reserves of four to five weeks are most vulnerable. He added that airlines may cut less popular leisure routes first. Several carriers, including Skybus, Aurigny, Air New Zealand, and SAS, have already reduced flights. Ryanair's chief executive Michael O'Leary said the airline is considering a 10% cut in flights.
A UK government spokesperson stated that British aircraft have not reported any disruption and are operating normally, adding that they are engaging with carriers to support operations against the backdrop of war in the Middle East.
