European airports warn of half-term vacation chaos because of jet gas scarcity
Airports across Europe could face “systemic” jet fuel shortages within three weeks if the Strait of Hormuz remains closed, an airport industry group has warned.
Airports Council International Europe, which represents more than 600 airports in 55 countries, sent a letter to the European Commission, warning that a fuel crunch would “significantly harm the European economy”.
The group said “the impact of military activity on demand” was further straining supplies.
With peak summer season nearing, the fuel shortages have prompted fears of delays and cancellations as millions of Britons prepare to travel for the May half-term school break.
In the letter seen by the Financial Times, EU transport commissioner Apostolos Tzitzikostas was warned of “increasing concerns of the airport industry over the availability of jet fuel as well as the need for proactive EU monitoring and action”.
“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.”
Jet fuel prices have more than doubled to $150 to $200 per barrel in recent weeks, as the key global shipping route, which carries much of the world’s jet fuel supply, has stayed closed.
The airport body said its concerns had been intensified by the approach of the holiday season, “when air travel enables the whole tourism ecosystem upon which many [EU] economies rely”.
According to a study from the group, air connectivity contributes €851 billion (£741 billion) in gross domestic product for European economies each year and supports 14 million jobs.
This is a breaking news story, more to follow…
Source: independent.co.uk
