Europe could face a systemic shortage of jet fuel if the Strait of Hormuz does not reopen in a “significant and stable” way within the next three weeks, a group representing the airport sector has warned.
The Airports Council of Europe International (ACI) – which represents more than 600 airports across the continent – called on the European Union to take immediate action to avoid this scenario in a letter sent on Thursday (9) to the European Commission, obtained this Friday (10) by CNN.
Some of the suggested measures include EU collective purchasing and a temporary easing of regulations that make it difficult for the continent to import jet fuel.
The group also asked the European Commission to carry out its own assessment and monitoring of the production and availability of aviation fuel.
If a supply crisis occurs, the group warned, it will severely affect air travel and “significantly harm the European economy”, worsening the impact of rising oil prices.
Any fuel shortages would affect European exports, 26% of which are processed by airports, as well as citizens as the region’s peak summer travel season approaches, the group pointed out.
A CNN contacted the European Commission to obtain a position.
Jet fuel prices have doubled since the , and supplies will likely remain tight for months even if Iran opens the , said Willie Walsh, director general of the International Air Transport Association (IATA), on Wednesday (8).
