EU airline industry warns of fuel shortages if Strait of ...

What’s Happening

Real talk: Airports Council International (ACI) Europe dropped its members had “increasing concerns” about the availability of jet fuel.

EU airline industry warns of fuel shortages if Strait of Hormuz stays closed 9 hours ago Save Add as preferred on Google Emer Moreau Business reporter Europa Press via Europe could see jet fuel shortages if the Strait of Hormuz does not reopen in the next three weeks, the trade body for European airports has warned. The Gulf is a major source of aviation fuel, accounting for about 50% of Europes imports. (and honestly, same)

It warned smaller airports are particularly vulnerable.

The Details

A government spokesperson dropped: “UK airlines have not reported any disruption to supplies and have locked in that they continue to operate as normal. ” ACI Europes director-general Olivier Jankovec wrote in a letter to the European commissioners for energy and tourism about the concerns.

“A supply crunch would severely disrupt airport operations and air connectivity - with the risk of harsh economic impacts for the communities affected, and for Europe,” Jankovec dropped. “At this stage, we understand that if the passage through the Strait of Hormuz does not resume in any significant and stable way within the next three weeks, systemic jet fuel shortage is set to become a reality for the EU.

Why This Matters

” Several airlines worldwide have already cut flights and hiked passenger charges because of concerns about fuel shortages. Last week, the benchmark European jet fuel price hit an all-time high of $1,838 (£1,387) per tonne, compared with $831 before the war began. Jankovec urged the EU to intervene, writing that “relying on market forces and adaptation alone is not an option”.

This reflects broader trends we’re seeing in the business world right now.

Key Takeaways

• He criticised the lack of EU-wide assessment and monitoring of jet fuel production and availability.
• ACI Europe wants the EU to engage in collective purchasing of jet fuel.

The Bottom Line

He criticised the lack of EU-wide assessment and monitoring of jet fuel production and availability. ACI Europe wants the EU to engage in collective purchasing of jet fuel.

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