Summer holidays could be disrupted unless oil flows through the Strait of Hormuz resume within three weeks, airports have warned. Jet fuel shortages are expected to become so acute that flight cancellations across Europe will be inevitable, potentially affecting millions of passengers.
The warning came from Airports Council International (ACI) Europe, which wrote to EU energy and transport commissioners stating the bloc is three weeks away from shortages. The crisis follows Iran's effective closure of the Strait of Hormuz in retaliation for US and Israeli attacks, causing oil prices to soar.
Jet fuel prices have more than doubled compared with last year, reaching $1,650 a tonne globally, according to Iata. Europe has sourced 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.
Smaller airlines in the UK have already cancelled some flights, including Skybus's Newquay to London Gatwick route and Aurigny's 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.
A UK government spokesperson said British aircraft have not reported any disruption to fuel supplies and are operating as normal, adding that they are engaging with carriers to support operations against the backdrop of war in the Middle East.
