European airlines downplay fears of summer jet fuel shortage
Key takeaways
- The sector and regional officials are notably downplaying fears of shortages partly to reassure travellers ahead of the peak northern hemisphere summer and protect bookings at a critical time for earnings, analysts say.
- The Gulf supplies around a quarter of Europe’s jet fuel.
- “There are always people who want to take a stand – we’re running out of fuel.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize European airlines, airports and tour operators are striking a bullish tone on jet fuel supply despite one of the worst crises in decades which has driven prices to double from pre-Iran war levels as the conflict snarls oil flows via the Strait of Hormuz.
The sector and regional officials are notably downplaying fears of shortages partly to reassure travellers ahead of the peak northern hemisphere summer and protect bookings at a critical time for earnings, analysts say.
The industry’s confidence contrasts with bleaker warnings from traders as the Strait of Hormuz, through which around a fifth of global oil flows, remains all but closed to shipping due to blockades by Iran and the U.S. as their conflict drags on. The Gulf supplies around a quarter of Europe’s jet fuel.