Airports Council International – ACI Europe emphasizes that the situation is more critical than previously reported. It jeopardizes airlines’ planning, especially in the run-up to the high summer tourist season.
This reports Euronews with reference to the Financial Times and Corriere della Sera.
While about 40% of the world’s supply of aviation kerosene passes through the Strait of Hormuz, a number of EU countries have strategic reserves for 8-10 days, after which they will have to introduce rationing. In Italy, several airports have already resorted to this measure after supply disruptions.
The situation is aggravated by the fact that the truce between the U.S. and Iran has not yet led to a decrease in prices. Traffic in the Strait of Hormuz remains restricted, with some 170 million barrels still blocked in the Persian Gulf.
On Thursday, jet fuel prices were holding at around $1573 per ton – more than double what they were before the conflict.
Airports’ demands
In the letter, ACI Europe urged the European Commission to consider emergency measures, including joint fuel procurement at EU level, as well as commitments for refiners to ensure that jet fuel production is prioritized over other products.
The association is also demanding an urgent assessment of fuel production and availability for the next six months. Currently, there is no centralized monitoring.
Rising costs are already forcing air carriers to cut services. The Financial Times reports that LOT Polish Airlines and Air New Zealand, are canceling less profitable flights and raising ticket prices.
And Corriere della Sera notes that the reduction in flights will seriously hit the tourism industry, on which the economies of many EU countries depend.
The International Energy Agency called it the worst energy crisis in history, with serious consequences for global food security.
