Donald Trump has stated a deal is close between the US and Iran – and if the Strait of Hormuz reopens it could mean lower airline prices straight away for passengers
The boss of easyJet has stated that his airline could slash fares again – if the Strait of Hormuz fully reopens.
The popular budget airline carrier previously said it would raise prices this summer due to the Iran war, with jet fuel now in shorter supply in Europe due to the ongoing situation in the Middle East.
CEO Kenton Jarvis told The Mail on Sunday that the extended closure of Hormuz meant there was “a lot of backed up production that will start flowing” from the region when shipments are once again allowed through the key waterway.
He said: “When the Strait of Hormuz reopens there is going to be an awful lot of supplies that will start shipping out of there.”
When asked if easyJet would cut ticket costs for passengers if its fuel bill was lowered by a global price crash, the chief executive replied: ‘Yes’.
“The purpose of easyJet is to make flying affordable and accessible and easy for as many people as possible,” he continued. “We will always have attractive fares. The reality is that benefit would end up being passed back over time.
“If additional oil fields and wells have been opened in Nigeria, in Norway and in the North Sea, no one’s going to shut them down two years later. It’s going to bolster the supply globally.”
It comes as President Donald Trump stated that a peace deal between the US and Iran is very close, with final aspects of the deal now being discussed.
Donald Trump posted on Truth Social saying: “An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries, as listed.
“Final aspects and details of the Deal are currently being discussed, and will be announced shortly. In addition to many other elements of the Agreement, the Strait of Hormuz will be opened.”
Earlier on Saturday, a regional official with direct knowledge of the Pakistan-led mediation efforts said the U.S. and Iran were closing in on a deal to end the war.
The official, speaking on condition of anonymity to discuss closed-door deliberations, cautioned that “last-minute disputes” could blow up the efforts.
