The International Energy Agency (IEA) has warned that Europe has only six weeks' worth of jet fuel remaining due to the ongoing Middle East conflict, prompting several airlines to cancel and ground flights. Fatih Birol, IEA executive director, told the Associated Press that if oil supplies continue to be restricted through the Strait of Hormuz, flight cancellations could follow 'soon', describing it as 'the largest energy crisis we have ever faced'.
Swedish carrier SAS has cancelled 1,000 flights in April, while United Airlines plans to cancel five per cent of flights in the second and third quarters of 2026. Dutch airline KLM has cancelled 160 flights in the coming month, and South Korea's Asiana will slash 22 flights between April and July. Hong Kong's Cathay Pacific and its budget arm HK Express are cutting around 2% and 6% of flights respectively from mid-May.
German airline Lufthansa is grounding 27 short-haul planes earlier than planned, and Vietnam Airlines is cancelling 23 domestic flights per week. Air New Zealand expects 1,100 flights to be impacted over the next two months, while Norse Atlantic Airways has removed all flights to Los Angeles International Airport this summer.
Major airlines including British Airways, Ryanair and easyJet have not cancelled flights as a direct result, but have flagged potential impacts on ticket costs and schedules. BA is ending its London Heathrow to Jeddah route, citing a shift in demand. Last week, easyJet chief executive Kenton Jarvis reassured passengers, stating that all airports are 'operating as normal' and that the airline has fuel visibility to mid-May.
EasyJet revealed the conflict cost it roughly £25 million in elevated jet fuel costs last month, and it expects a headline pre-tax loss of between £540 million and £560 million for the six months to March. Bookings have dropped by two percentage points for the quarters ending June and September compared with last year, sending shares down by as much as 9%.
