️ German aviation group Lufthansa has announced it will cut 20,000 short-haul flights through October, as the ongoing war with Iran drives up oil prices and raises fears of jet fuel shortages in some countries.
️ Lufthansa said on Thursday it would cancel less profitable routes and focus on flights to and from its hub airports in Frankfurt and Munich, saving approximately 40,000 tonnes of jet fuel. The company had previously announced it would ground 27 planes in its CityLine subsidiary earlier than planned.
️ The fuel crisis stems from the US-Israeli war on Iran, which has disrupted shipping through the Strait of Hormuz — a vital waterway that normally handles one-fifth of the world's oil and liquefied natural gas supplies. Jet fuel prices have more than doubled in some markets since the conflict began in late February.
️ European airlines are particularly vulnerable to fuel price increases, as jet fuel is one of their biggest expenses and they rely heavily on imports from the Middle East. Approximately 75% of Europe's jet fuel imports come from the region, making any prolonged disruption especially challenging.
️ Lufthansa said it has secured enough jet fuel "for the coming weeks" and is taking measures to ensure stable supply for the summer. The global price of jet fuel rose from about $99 per barrel at the end of February to as high as $209 per barrel in early April, according to the Associated Press.
️ For travelers, this has already meant fewer flight options and higher fees heading into the peak summer season, with many airlines raising checked bag fees or adding fuel surcharges. Last week, International Energy Agency head Fatih Birol warned that Europe has "maybe six weeks or so of jet fuel left," predicting possible flight cancellations soon.
️ EU Energy Commissioner Dan Jørgensen said the war is costing Europe around 500 million euros ($600 million) each day, and warned that the energy crisis could impact prices for months or even years. "Even in a best-case scenario, it's still bad," he said, adding that EU governments are "very worried" about lasting jet fuel shortages.
Source: www.aljazeera.com