
Trade body urges EU action as peak summer travel season approaches amid supply chain disruptions
Airports Council International warns that continued closure of the Strait of Hormuz could lead to systemic jet fuel shortages in the EU within three weeks, threatening peak summer travel and potentially driving up airfares.
AI-generated summary
Airports are bracing for mass shortages of jet fuel if the Strait of Hormuz does not reopen within the next three weeks, according to a trade body.
Airports Council International (ACI), which represents more than 600 airports, warned of a "systemic" shortage in a letter to the European commissioners for energy and transport and tourism.
The body's director-general Olivier Jankovec wrote in the letter: "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.
"The fact that we are entering the peak summer season... is only adding to those concerns."
He urged authorities to monitor the jet fuel supply over the next six months, alongside action that can be taken to increase production within Europe.
Mr Jankovec continued: "This crisis has exposed the reduced refining capacity of the EU for jet fuel production, and its acute dependence on imports from other world regions."
Supplies of jet fuel have plummeted since Iran's effective closure of the Strait of Hormuz, a critical international shipping route, in response to US/Israeli attacks.
Analysts have also warned that soaring jet fuel prices can be quicker to pass through to airfares than road fuel and household energy costs.
Ryanair's boss Michael O'Leary said earlier this month that if the war continues, then there was a risk of "disruptions in Europe in May and June", adding that "maybe 10%, 20%, 25% of our supplies might be at risk".
Despite suggestions from the White House that the Strait of Hormuz would be open after the US and Iran came to a ceasefire agreement, there is still nowhere near the number of vessels passing through as there was before the war.

The UK Treasury is asking bankers and lawyers to submit success stories of blocked dirty money to prove its anti-money laundering controls work ahead of a 2027 FATF global watchdog review.

Train drivers on Avanti West Coast have secured a 3.6% pay rise and improved conditions after strike action was threatened, in a deal approved under government oversight.

Germany-based financial services firm Allianz is reportedly considering a £5bn takeover of British breakdown recovery group AA, alongside private equity bidder EQT.

Germany-based financial services firm Allianz is considering a £5bn takeover of UK breakdown recovery group AA, alongside private equity firm EQT.

The US has reached an energy agreement with Venezuela to control over 65 billion barrels of its oil reserves, aiming to lower US gas prices and revive Venezuela's economy, though analysts question its viability.

Bank impersonation scams are becoming increasingly costly in the UK, with Lloyds and Santander reporting higher average losses per victim as fraudsters pose as banks, the police, and other trusted organisations.