Airports Council International (ACI) Europe, the trade body for European airports, has warned that shortages of Jet fuel (Jet A1) could happen within a few weeks if the Strait of Hormuz is not reopened.
ACI Europe says that around 50% of fuel for European airports comes from the Persian Gulf, or via the Strait and that its members were becoming increasingly concerned about the supply leading into the summer season.
In a letter to the European commissioners for energy and tourism, ACI Europe’s director-general Olivier Jankovec said: “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.”
Before the US began Operation Epic Fury, the benchmark price of jet fuel in Europe was around $830 per tonne and this has now risen to over $1,300 per tonne.
ACI Europe wants to see the restrictions and regulations on importing jet fuel be lifted temporarily as its member look into collective purchasing options.
The rising cost of jet fuel has already seen some airlines reduce the number of flights and raise the fares on new bookings. Although airlines have stopped short of adding fuel levies at the moment, it is an option if the crisis continues.
Jankovec also warned that smaller airports, those with fewer than a million passengers may struggle the most with obtaining jet fuel which would have a significant impact on their local economies.