The airline Lufthansa has signaled fears that the continuation of the war in the Middle East for a long period could increase the price of jet fuel.
“Availability of aviation fuel is already a problem at some Asian airports,” said Grazia Vittadini, member of the Management Board for Technology, IT and Innovation, in an interview with the German press outlet Die Welt. The executive stated that the longer the Strait of Hormuz remains blocked, “the more critical the security of kerosene supplies could become.”
The passage through which almost a fifth of the world’s oil flows has been closed since the end of February as a result of the war between the USA, Israel and Iran. The difficulty in supply has already impacted the price of fuels worldwide, which includes aviation kerosene.
Vittadini claims that airlines are partially protected from the fluctuations: “The rise in oil prices is still largely mitigated by an 80% coverage of this year’s fuel needs. But, of course, we are also affected by the rise in kerosene prices.”
