Europe Jet‑Fuel Alert
- Europe faces a looming jet‑fuel shortage that could force airlines to cancel flights before summer. (cnbc.com) - The International Energy Agency warned mid‑April that Europe had roughly six weeks' worth of jet fuel on hand. (mirror.co.uk) - Major carriers including British Airways, Ryanair, easyJet and Jet2 have warned of cancellations, higher fares, and broader disruption if supplies tighten. (mirror.co.uk)
Europe could start losing flights before summer if jet fuel supplies keep tightening, after the International Energy Agency warned the region has only “maybe six weeks” of stock left. (apnews.com) The warning came on April 16, when International Energy Agency chief Fatih Birol said Europe was nearing a tipping point and CNBC reported shortages could hit in “several weeks.” (apnews.com) (cnbc.com) The supply shock is tied to the Iran war and the effective closure of the Strait of Hormuz, a route that accounts for about 40% of Europe’s jet-fuel imports, according to the Associated Press and Argus Media. (pbs.org) Jet fuel is refined from crude oil and moved by ship, pipeline and airport storage systems before it reaches planes. It is also airlines’ biggest cost line, typically about 25% to 30% of operating costs, according to the International Air Transport Association. (pbs.org) (iata.org) That cost pressure is already showing up in airline planning. CNBC reported on April 22 that carriers with large European short-haul networks, including Ryanair, easyJet and Wizz Air, are among the most exposed as hedges thin and summer schedules approach. (cnbc.com) In Britain, Airlines UK — whose members include British Airways, easyJet, Jet2, Ryanair, TUI, UPS and Virgin Atlantic — has asked ministers and the Civil Aviation Authority for emergency help if disruption worsens. (yahoo.com) The trade group’s document says jet-fuel costs have doubled and asks for measures including temporary permission to use U.S.-grade Jet A fuel, refinery orders to prioritize jet fuel, and relief on slot rules, taxes and compensation obligations. (yahoo.com) Airlines UK also said carriers are “continuing to operate normally” and are not currently experiencing supply problems, while staying in contact with the U.K. Department for Transport. (yahoo.com) The International Energy Agency’s April oil report said the OECD Europe region imports more than 30% of its jet fuel, with most of that normally moving through the Gulf route now under strain. (rte.ie) (iea.org) If flows do not recover by late May or June, the first signs for travelers are likely to be fewer flights and higher fares rather than empty airports. That is the scenario airlines and regulators are now trying to avoid before Europe’s peak summer season. (apnews.com) (cnbc.com)
