Oil prices have risen sharply since the start of the Iran conflict and the short-term ceasefire remains fragile, raising concerns over jet fuel prices heading into the summer holidays

Several major airlines have issued updates to travellers ahead of the summer holidays as the ongoing Middle East conflict causes panic over fuel shortages.

Oil prices have risen sharply since the US and Israel carried out joint strikes on Iran on February 28 and Iran retaliated by striking US regional allies and closing the critical Strait of Hormuz trade route, through which 20% of global oil traded passes. No long-term peace agreement has been reached and a short-term ceasefire remains fragile.

Concerns over travel during the summer holidays have risen over the availability of jet fuel. Airlines including TUI, Jet2, Ryanair and EasyJet have issued updates to customers, reassuring them that operations will continue with minimal disruptions.

TUI

TUI has assured customers that operations will continue, but higher prices could occur.

CFO Mathais Kiep has said that sufficient fuel is available for the next 10 weeks. Fuel prices may have risen, but hedging strategies and reduced consumption have could have mitigated the immediate operational risks.

The airline has signalled that price adjustments, rather than operational disruptions, can be expected.

Ryanair

Ryanair has said it has “almost zero concerns” regarding jet fuel availability for the summer period, Travel and World Tour reported. The airline has attributed this to an abundance of alternative supply within Europe.

The budget airline has warned that buying flights later into summer may be met with higher fares.

EasyJet

EasyJet has said that operations remain unaffected by the fuel crisis.

The airline has introduced its Book With Confidence Promise which promises that costs remain fixed after booking, helping to buffer customers from fuel surcharge changes.

Jet2

Jet2 has seen customers increasingly opting for holiday packages. CEO Steve Heapy has said that holiday packages offer security during periods of uncertainty.

The aviation industry maintains it is not currently experiencing any shortages, given the typical six weeks’ visibility of supply, though international agencies have warned that Europe could face jet fuel shortages should the conflict in the Middle East continue to disrupt supplies.

The UK government has indicated that precautionary measures could be introduced to prevent last-minute disruption for holidaymakers throughout the summer season.

These include consolidating schedules on routes where multiple flights to the same destination were operating on the same day.

Transport Secretary Heidi Alexander has confirmed there are no “immediate supply issues”, but added that the government was “preparing now to give families long-term certainty and avoid unnecessary disruption at the departure gate this summer”.



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