header logo
Rhythms of Lanka
Mogo Academy
Latest
EU airline industry warns of fuel shortages if Strait of Hormuz stays closed
Apr 11, 202611:43 AM
EU airline industry warns of fuel shortages if Strait of Hormuz stays closed
Mobitel Inner

Europe will suffer jet fuel shortages in just three weeks if the the Strait of Hormuz does not reopen, the trade body for the continent’s airports has warned.

 

The Persian Gulf is a major source of aviation fuel, accounting for about 50% of Europe’s imports.

 

Airports Council International (ACI) Europe said its members had “increasing concerns” about the availability of jet fuel, particularly with the approach of the summer tourism season.

 

It warned smaller airports are particularly vulnerable.

 

“A supply crunch would severely disrupt airport operations and air connectivity – with the risk of harsh economic impacts for the communities affected, and for Europe,” ACI Europe’s director-general Olivier Jankovec wrote in a letter to the European commissioners for energy and tourism.

 

“At this stage, we understand that if the passage through the Strait of Hormuz does not resume in any significant and stable way within the next three weeks, systemic jet fuel shortage is set to become a reality for the EU.”

 

Several airlines worldwide have already cut flights and hiked passenger charges due to concerns about fuel shortages.

 

Last week, the benchmark European jet fuel price hit an all-time high of $1,838 (£1,387) per tonne, compared with $831 before the war began.

 

Jankovec urged the EU to intervene, writing that “relying on market forces and adaptation alone is not an option”.

 

He criticised the lack of EU-wide assessment and monitoring of jet fuel production and availability.

 

ACI Europe wants the EU to engage in collective purchasing of jet fuel. The body has also called for restrictions and regulations on importing jet fuel to be temporarily lifted.

 

The letter, which was written on 9 April and first reported by the Financial Times, said: “This crisis should also be the opportunity to reinforce support for SAF [sustainable aviation fuel] production and affordability,

 

“The price of conventional jet fuel is likely to remain at higher levels in the medium to long-term.”

 

Jankovec added that airports with fewer than a million passengers per year were already struggling with viability “without even accounting for the impact of jet fuel shortages”.

 

He warned the current crisis could make airports even more fragile and threaten local communities, potentially impacting European cohesion.

 

Air travel contributes €851bn (£741bn) to European economies’ GDP every year and supports 14 million jobs.

 

Source: BBC

 

--Agencies

 

 

 

MostRead
Mobitel Upahara
VideoStories
 “There is another reason behind the rush” – Lawyers’ body questions judges’ retirement age move

“There is another reason behind the rush” – Lawyers’ body questions judges’ retirement age move

New Constitution, land issues take centre stage as Tamil and Muslim leaders meet President

New Constitution, land issues take centre stage as Tamil and Muslim leaders meet President

Mahara Prison Clash: Multiple investigations launched into Rs. 150 million damage

Mahara Prison Clash: Multiple investigations launched into Rs. 150 million damage

Bad weather wreaks havoc across Sri Lanka Warning for heavy rains, strong winds & landslides issued

Bad weather wreaks havoc across Sri Lanka Warning for heavy rains, strong winds & landslides issued

“Prisoners’ safety must be guaranteed by the govt” Several factions demand answers from Minister

“Prisoners’ safety must be guaranteed by the govt” Several factions demand answers from Minister

Mahara Prison unrest damage estimated at Rs. 150 million; Video evidence and masterminds under probe

Mahara Prison unrest damage estimated at Rs. 150 million; Video evidence and masterminds under probe

"Bringing smiles to little hearts" Children learn the art of kite-making at Derana Kite Workshop

"Bringing smiles to little hearts" Children learn the art of kite-making at Derana Kite Workshop

“Need to find out if it was controlled from outside”; Justice Minister on Mahara Prison unrest

“Need to find out if it was controlled from outside”; Justice Minister on Mahara Prison unrest

ADB extends $200M to help Sri Lanka tackle economic pressures from Middle East conflict

ADB extends $200M to help Sri Lanka tackle economic pressures from Middle East conflict

Ceypetco announces that fuel prices will remain unchanged in August

Ceypetco announces that fuel prices will remain unchanged in August

'Suwa Seriya' free ambulance service marks 10 years as India pledges 100 more ambulances

'Suwa Seriya' free ambulance service marks 10 years as India pledges 100 more ambulances

Ex-Defence Secretary and ex-IGP sentenced to death over failure to prevent 2019

Ex-Defence Secretary and ex-IGP sentenced to death over failure to prevent 2019

TV Derana named ‘Youth TV Channel of the Year’at 7th New Generation "Youth Top40" Awards

TV Derana named ‘Youth TV Channel of the Year’at 7th New Generation "Youth Top40" Awards

Latest S&P assessment reflects Sri Lanka’s rising investor confidence and economic stability

Latest S&P assessment reflects Sri Lanka’s rising investor confidence and economic stability

Buddhists across Sri Lanka observe sacred Esala Full Moon Poya today

Buddhists across Sri Lanka observe sacred Esala Full Moon Poya today

Lassana Flora