The director of the International Energy Agency warns that the summer holidays could be thrown into chaos if flights are canceled. “We will soon hear news that some flights from city A to city B may be canceled due to lack of fuel,” says Fatih Birol.
Europe only has around six weeks of aviation fuel reserves, the head of the energy sector warned, in a scenario he fears could become “the biggest energy crisis that we have ever faced.”
Second Fatih Biroldirector of the International Energy Agency, the cancellations of flights will begin “soon” if the Strait of Hormuz remains closed in the middle of the war with Iran, which could throw the summer holidays into chaos.
The warning comes at a time when the EasyJet announced forecast losses adjusted before taxes 620 to 640 million euros in the six months to the end of March. The airline spent more 29 million euros in fuel aviation last month.
The ongoing blockade imposed by the President of the United States, Donald Trumpthis strategic maritime route has blocked much of the supply global oil supply in the Gulf and made skyrocket fuel prices.
The situation is fuel fears of delays and cancellations of flights among Brits as they prepare to travel during the half-term school break, notes the .
“In the past there was a group called ‘Dire Straits’. Now we are faced with a truly dramatic straitand this will have profound implications for the world economy. And the longer this lasts, the worse the consequences will be for economic growth and inflation around the world” said Birol on Thursday.
The impact will translate into “higher gasoline priceshigher gas prices and higher electricity prices” and will affect some regions of the world “more than others,” he said. asian countriesincluding Japan, Korea, India, China, Pakistan and Bangladesh, are likely to feel the more severe effects.
Europe and the American continent will be nextThe impact will be felt if oil does not return to the Strait of Hormuz, he added. “I can tell you that, soon we will hear news that some flights from city A to city B may be canceled due to lack of aviation fuel.”
Airlines across Europe, including the United Kingdom, have already warned higher air fares and for flight cancellations. Ryanair’s executive director, Michael O’Learysaid this week that the company is considering cut 10% of your flights.
A Scandinavian company SAS canceled more than a thousand flights this month and confirmed it is temporarily increasing prices due to rising jet fuel costs.
easyJet reported that the war introduced “short-term uncertainty on fuel costs and customer demand,” with bookings falling two percentage points in the three months to the end of June and September, compared with the same period last year.
On Monday, the airlines led the stock market declines in London as concerns grew over pressure on aviation fuel supply and costs.
