Airlines could face ‘an existential crisis’ in just a few weeks’ time if the Strait of Hormuz crisis continues, an aviation expert has said, amid warnings that more flights could be cancelled
British tourists could face up to eight weeks of cancelled flights and airport chaos this summer as major airlines grapple with imminent fuel shortages, experts have warned.
European giants KLM and Lufthansa announced yesterday that they would be axing hundreds of flights due to the soaring cost of jet fuel – while Fatih Birol, executive director of the International Energy Agency (IEA), warned that European airports have only “six weeks or so” of supply left due to shortages caused by the Strait of Hormuz crisis.
The warnings have new sparked fears of disruption just before the busy summer holiday season, with airlines set to slash more routes and cut back on schedules if the crisis goes on.
READ MORE: EasyJet boss warns of summer price hike after £25million hit from jet fuel costsREAD MORE: KLM and Lufthansa CANCEL hundreds of flights as fuel cost soar amid Iran war
One aviation expert said that the period between now and mid-June could prove crucial, as airlines could face an “existential crisis” if the global oil shock has not by subsided by then.
Sally Gethin told the Daily Mail: “The worst case scenario is if this carries on for six to eight weeks and the shortages start really biting. This could pose an existential crisis to airlines – even if they slap on fuel surcharges they still won’t recoup the cost.
“You could be looking at tens of thousands, potentially hundreds of thousands, of flights being cancelled globally. It could affect holiday companies as well, although consumers will be protected if their trips are covered by ATOL.”
The Mirror has approached all of Britain’s largest airlines and airport operators to ask whether they are preparing contingency plans for jet fuel shortages. Simon Calder, a travel journalist, reassured holidaymakers today that Mr Birol’s warning was “a mile off” but accepted prices of foreign holidays are likely to rocket this summer. He told Channel 5’s Matt Allwright Show families should look at holidaying in the UK, such as at Bournemouth, instead.
On Thursday, easyJet chief executive Kenton Jarvis said all the airports it serves are “operating as normal”.
He went on: “We only ever in this industry have three to four weeks visibility (of jet fuel supplies), and that is the same as it was pre-crisis.
“We have visibility to the middle of May, and we have no concerns.
“What we’re seeing is airports and fuel suppliers working well to bring jet fuel to the airports.”
Chancellor Rachel Reeves told the BBC yesterday that Britain has “no issues with supply at the moment” in jet fuel, diesel or petrol as she left a meeting of the International Monetary Fund (IMF) in Washington DC.
The IMF this week urged countries to manage energy demand by adopting measures such as subsidising public transport and promoting remote work to combat a surge in energy costs caused by the conflict.
