Britons’ summer holidays could be disrupted due to low jet fuel stocks caused by the war in Iran, the European Union’s energy chief has warned. Dan Jorgensen, the EU’s energy commissioner, said it is “very likely” that people’s holidays will be affected by cancelled flights or very expensive tickets.
Speaking to Sky News on Wednesday, Mr Jorgensen said Europe is in a “very serious crisis” that is currently affecting prices but could soon also impact supply. The aviation industry’s fuel stock has faced significant disruption due to the lack of movement of oil through the key shipping route of the Strait of Hormuz.
“Unfortunately, it’s very likely that many people’s holidays will be affected, either by flight cancellations or very, very expensive tickets,” Mr Jorgensen said. “Even if we do everything we can do, if the jet fuel is not there, then it’s not there.” He added that the price crisis could last for “months and maybe even years”.
Last week, the head of the International Energy Agency, Fatih Birol, warned that Europe only has around six weeks of jet fuel supply left in what he fears could be “the largest energy crisis we have ever faced”. Lufthansa’s airline group has already cancelled 20,000 flights to protect itself from soaring oil costs, while Ryanair said it cannot rule out risks to fuel supplies at some European airports if the Strait of Hormuz closure continues into May or June.
Simon Calder, travel correspondent of The Independent, said: “Aviation is a low-margin industry. When the price of fuel doubles, flights which were only marginally profitable can become heavily loss-making.” The European Commission has proposed measures to address the impact on energy markets from the US-Israeli war with Iran.
