Fuel Crisis Threatens European Summer Flights
A blockade of the Strait of Hormuz has caused a jet fuel shortage. The strait is a key shipping route in the Middle East.
A war in the Middle East led to the blockade. Low-cost airline Transavia has cancelled flights in May and June.
It blamed rising fuel prices. Other European airlines expect more cancellations too.
European airlines import 30 to 40% of their jet fuel. This makes them especially exposed to the shortage.
Airlines are also expected to raise ticket prices as fuel runs low. The head of the global airline body IATA warned the crisis may last months.
Even if the war ends soon the fuel supply may not recover quickly. Impacts could last through the whole summer and beyond.
Klear Note — The Strait of Hormuz carries about one-third of world's oil shipments. Blockades there quickly raise fuel prices globally. European airlines depend heavily on imported jet fuel.
Key Terms 3
- Strait of Hormuz A narrow sea passage in the Middle East vital for oil shipping
- kerosene The type of fuel used to power aircraft engines
- IATA International Air Transport Association — the global airline industry body