Airports across Europe have warned that jet fuel could run short within three weeks if oil supplies do not resume flowing 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 is three weeks away from shortages.
The crisis stems from Iran effectively closing the Strait of Hormuz in retaliation for US and Israeli military actions. Oil prices have surged since March, with Brent crude remaining at about $96 a barrel despite a two-week ceasefire announced by Donald Trump. Jet fuel prices have more than doubled year-on-year to $1,650 a tonne, according to Iata.
Smaller airports are most vulnerable, as they typically hold only four to five weeks of reserves. Some airlines have already cut flights: Skybus closed its Newquay to London Gatwick route, and Aurigny reduced services between the Channel Islands and London City, Paris and south-west England. Ryanair's chief executive Michael O'Leary said the airline is considering cutting 10% of its flights.
Europe sources over 60% of its jet fuel from Gulf refineries, with more than 40% shipped through the Strait of Hormuz. 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 for the UK arrived in Kent on Tuesday. A UK government spokesperson said British aircraft have not reported disruption and are operating normally, but officials are engaging with carriers to limit passenger impact.
