European warning of aviation fuel shortages if the Strait of Hormuz continues to be closed
Brussels, April 11 / WAM / The European Airports Authority, Airports Council International – Europe, has warned of the possibility of a severe shortage of aviation fuel within the European Union, if the closure of the Strait of Hormuz continues during the next three weeks, which could threaten air traffic and negatively affect the European economy.
The Authority explained that imports from the Gulf region represent about 50% of Europe’s aviation fuel imports, making supplies vulnerable to major disruptions if navigation through the strait continues to be disrupted, especially with the approaching summer travel season, which witnesses peak demand for flights.
In a letter addressed to the European Union Energy and Tourism Commissioners, the Authority’s Director General, Olivier Jankovic, expressed growing concern among European airports about the availability of fuel, warning that “a supply crisis could lead to a severe disruption of airport operations and air connectivity, with major economic risks to local communities and Europe as a whole.”
He added that the continued disruption of traffic through the Strait of Hormuz in a stable manner during the next three weeks may make “a shortage of aviation fuel at the European Union level an inevitable reality.”
He pointed out that several airlines around the world have already begun reducing their flights and raising ticket prices due to fears of fuel shortages, at a time when aviation fuel prices in Europe reached a record level of $1,838 per ton, compared to about $831 before the outbreak of war in the Middle East.
Yanukovych called on the European Union to intervene urgently, stressing that relying on market mechanisms alone is not an option, and criticizing the absence of evaluation and monitoring at the EU level for the production and availability of aviation fuel.
The authority proposed adopting a collective purchasing mechanism for fuel, in addition to temporarily easing regulatory restrictions on its imports. It also stressed the need to enhance support for the production of sustainable aviation fuel.
The Authority warned that small airports, which serve less than a million passengers annually, are the most vulnerable to being affected, and may face additional difficulties that threaten their continuity and affect the economic cohesion of European regions.
The aviation sector contributes about 851 billion euros annually to the European gross domestic product and provides about 14 million jobs, making any disruption in fuel supplies with wide-ranging repercussions.
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