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Jet Fuel Crisis Grounds Flights: Europe Hit Hardest
23 Apr
Summary
- A jet fuel shortage is causing airlines to cancel flights globally.
- Europe faces the most severe impact due to reduced Middle Eastern supply.
- Jet fuel prices in Europe have doubled since the war began.
The ongoing war in Iran has triggered a severe jet fuel shortage, causing widespread flight cancellations and threatening summer travel, especially in Europe. German carrier Lufthansa has canceled 20,000 flights through October, affecting hubs like Frankfurt and Munich.
Europe is disproportionately affected as it imports a third of its jet fuel, with 75% traditionally coming from the Middle East. Disruptions at the Strait of Hormuz and limited crude oil exports from Asia have slashed this supply. Consequently, European jet fuel prices have doubled since the conflict began.
Analysts warn that Europe may only have about four to six weeks of jet fuel supply remaining. While the U.S. has increased its exports, this is not enough to fully offset the deficit. American travelers face higher fares, but are less likely to experience cancellations, unless flying to or from Europe.
