Airline chiefs warn supplies jet fuel in some countries could be hit within a matter of weeks due to the fall-out from the Middle East conflict
Airlines are drawing up emergency plans to cope with jet fuel shortages, according to reports.
Industry chiefs fear a hit to stocks could begin to be felt within a matter of weeks as the Middle East conflict threatens the flow of supplies.
The price of jet fuel has already doubled since the US and Israel launched missile attacks on Iran at the end of March. The surge, if it continues, risks higher fares for passengers.
Airline chiefs also complain that they are unsure about the availability of jet fuel supplies beyond the next month.
It comes as many families prepare for the looming Easter getaway, although the bigger impact could come in the summer unless the war is resolved.
Some countries, including the UK and elsewhere in Europe, are believed to have sufficient stocks of jet fuel for now. The bigger issue is for long haul carriers when travelling elsewhere and nervousness about having to refuel for the return leg.
Ben Smith, chief executive of Air France-KLM, said: “We’re putting in plans today to draw up scenarios on how we would deal with the shortage of fuel.”
The hit to supplies could be felt more in some areas of the world than others, however.
Mr Smith told the Financial Times: “South-east Asia is much more dependent on fuel coming over the Gulf than Europe is.
“We can get fuel out of Europe, but when we go to (a) south east-Asian city we’re not going to be able to fly the plane back. If there’s no fuel, you can’t fly.”
Kenton Jarvis, boss of budget airline easyJet, said suppliers had assured it of fuel deliveries for the next three weeks. “But no-one’s telling us ‘we have no immediate issues in six weeks’, because they’re not prepared to say that,” Mr Jarvis added.
Willie Walsh, director general of the International Air Transport Association and former boss of British Airways, warned: “This is a bigger supply issue than we’ve seen before.”
A hit to supplies could result in airlines reducing their number of flights, with a knock-on to passengers from availability and potentially higher prices.
