Airline industry officials are warning of potential disruptions to flight schedules this summer as jet fuel supply concerns and rising costs continue to develop amid the ongoing conflict in the Middle East. The International Air Transport Association (IATA) said shortages could first affect parts of Asia before spreading to other regions, while European carriers are also assessing the financial impact of sustained higher fuel prices.
“I think we will see airlines starting to reduce some of their schedules as we go towards the peak summer period in anticipation of some fuel shortages,” said Willie Walsh, director general of IATA, in an interview with Reuters.
He added that travel demand remains steady but airlines may adjust operations if fuel availability becomes constrained.
Government officials in Sweden, meanwhile, issued an early advisory to travelers Tuesday, noting a possible future shortage and encouraging flexibility in travel planning as the situation develops.
“We want to issue a warning well in advance that there is a risk that there will not be enough jet fuel,” Sweden’s Energy Minister Ebba Busch told Reuters. She advised travelers to build flexibility into their plans as conditions evolve.
European carriers are also assessing the financial impact of higher fuel prices, as several airlines reduce capacity or adjust schedules in response to rising operating costs.
“If pricing stays higher for longer this summer, we think a number of our airline competitors in Europe are going to face real financial difficulties,” said Ryanair CEO Michael O’Leary in comments to CNBC. “I think there will be failures.”
The FBO by me said that jet fuel is closing in on $11.00 dollars
a gallon. Brace yourselves this summer…