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The European airline industry is sounding the alarm over potential jet fuel shortages within three weeks if the Strait of Hormuz does not reopen. This crucial maritime passage is responsible for approximately 50% of the continent’s aviation fuel imports, and the ongoing closure could severely disrupt operations across the region, particularly as the summer travel season approaches.
Growing Concerns from ACI Europe
Airports Council International (ACI) Europe has expressed escalating worries regarding jet fuel availability. Olivier Jankovec, the organisation’s director-general, highlighted in a recent correspondence with European Commissioners for energy and tourism that smaller airports are at heightened risk of operational disruptions.
“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 stated. He emphasised the urgency of the situation, noting that a sustained closure of the Strait of Hormuz could lead to a systemic jet fuel shortage for the EU.
Rising Costs and Flight Reductions
The aviation industry is already feeling the effects of the crisis. Many airlines have begun reducing flight schedules and increasing ticket prices in response to fuel supply uncertainties. Last week, the average price of European jet fuel soared to an unprecedented $1,838 (£1,387) per tonne, a stark increase from $831 prior to the conflict in the region.
Jankovec has called upon the EU to take decisive action, arguing that “relying on market forces and adaptation alone is not an option.” He also pointed out the absence of a comprehensive EU-wide assessment regarding jet fuel production and availability, which he believes is crucial for navigating the crisis effectively.
Recommendations for EU Action
ACI Europe is advocating for several interventions from the EU to combat the impending fuel shortages. Among their proposals is the establishment of a collective purchasing scheme for jet fuel, alongside a temporary suspension of restrictions on fuel imports. These measures are seen as essential steps to safeguard the aviation sector and ensure continued connectivity within Europe.
Moreover, Jankovec stressed the importance of using this crisis as an opportunity to bolster support for sustainable aviation fuel (SAF). He warned that the costs associated with traditional jet fuel are likely to remain elevated in the medium to long term, necessitating a shift towards more sustainable alternatives.
Economic Implications for European Communities
The ramifications of the jet fuel crisis extend beyond the aviation industry. Airports with passenger numbers below one million are already grappling with viability challenges, and the current situation threatens to exacerbate these struggles. Jankovec warned that the crisis could jeopardise airport operations, impacting local economies and European cohesion more broadly. The air travel sector contributes approximately €851 billion (£741 billion) to the European economy annually and supports 14 million jobs.
Why it Matters
The potential jet fuel shortages pose a significant threat not only to the aviation sector but also to the broader European economy. As travel demand surges during the summer months, any disruption in fuel availability could lead to widespread operational challenges. The EU’s response to this crisis will be critical in safeguarding economic stability and ensuring that the aviation industry can continue to thrive, thereby protecting millions of jobs and the livelihoods that depend on a robust transport network.