European airlines, airports and tour operators said Europe’s jet fuel supplies remain sufficient for summer travel even as prices doubled from pre-Iran war levels.
The reassurance came as the Strait of Hormuz, a key Gulf shipping route, faced severe disruption from the Iran-US conflict, tightening oil flows into Europe.
TUI Chief Executive Officer Sebastian Ebel said after quarterly results on Wednesday that he saw no fuel shortages in the coming weeks and expected no summer impact beyond higher prices.
Lufthansa Chief Executive Officer Carsten Spohr said the airline group had secured fuel supplies into early summer, though visibility would weaken after mid-July. He said the group had replaced part of its normal Gulf supply with fuel from other sources and drawn the rest from reserves.
Ryanair Chief Executive Officer Michael O’Leary told Reuters in late April that the risk of a supply disruption was receding, while Wizz Air Chief Executive Officer Jozsef Varadi said high jet fuel prices gave suppliers room to find alternatives.
The International Energy Agency warned Wednesday that global oil supply would not meet demand this year as the Middle East conflict hit production, while LSEG Workspace data showed jet fuel stocks near record lows in the Amsterdam-Rotterdam-Antwerp region.
Dublin Airport Managing Director Gary McLean said the airport saw no short-term impact on supply. Aviation fuel technology firm i6 Group said airport operators increased jet fuel stocks by more than 60% in April, helping ease shortage fears.
European Union Energy Commissioner Dan Jorgensen said officials did not expect a serious short-term security-of-supply issue but could not rule out longer-term problems linked to the Middle East situation.
