Travellers have been concerned at the possibility for disruption this summer due to the continuing Middle East crisis (Image: Getty Images)
After a prominent analyst issued warnings about possible jet fuel shortages that could affect the UK this summer, Europe’s largest low-cost carriers have issued major updates for flights throughout the busy holiday period this summer, including June.
Ano Kuhanathan, head of corporate research at insurer Allianz, has cautioned that the closure of the Strait of Hormuz leaves Britain significantly more vulnerable than other European nations to supply disruptions. Approximately three-quarters of Europe’s jet fuel originates from the Middle East and travels through the crucial shipping lane.
He said: “The UK is Europe’s most structurally exposed market to jet fuel shortages, relying heavily on imports to meet aviation demand and running a persistent refining kerosene deficit, leaving it particularly vulnerable to supply shocks.”
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Read more: Jet2, Ryanair and easyJet flights face major schedule change this summer
Despite these worries, senior executives at Britain’s leading budget carriers have expressed confidence in their ability to operate a complete flight schedule over the summer.
A spokesperson for Jet2 said: “We remain in continual dialogue with our fuel suppliers, as is standard practice. Based on the conversations we have been having, we see no reason not to look forward to operating our scheduled programme of flights and holidays as normal.” The news follows a separate cautionary statement from Heathrow airport on Wednesday, which warned it expects passenger numbers for the rest of the year to be affected by the continuing unrest in the Middle East.
Laura Lindsay, spokesperson for price-comparison website Skyscanner, suggested that travel demand is shifting rather than disappearing. She told The Independent’s daily travel podcast: “We know that people do still want to get away. It may be reduced internationally and increased domestically, for example.”
Jet2 has revealed that holidaymakers are increasingly making last-minute bookings since the outbreak of the Iran conflict, amid mounting concerns over the impact of the war and fears surrounding jet fuel supply.
Airlines have had to make changes to schedules (Image: Getty)
The firm said summer passenger bookings to date are up 6.2% on the back of expansion across its airline and package holiday operations. However, in a sign of growing unease amongst travellers, it disclosed that the “booking profile has become increasingly close to departure” due to the Middle East conflict.
The company added that it is well protected from the fuel cost surge triggered by the Iran war during the critical summer period, stating it is “maintaining frequent dialogue with our fuel suppliers and airport partners on fuel supply”.
Ryanair chief executive Michael O’Leary stated that “the risk of a supply disruption is receding”, with no disruption risk before the end of June. He did, however, highlight that the UK is more exposed than other major nations.
EasyJet confirmed it plans to operate “a full schedule across its network”.
Garry Wilson, chief executive of easyJet Holidays, said: “Our operations remain unaffected, so customers can be confident that not only will their holiday go ahead as planned, but there will be no surprise extra payments.”
Yvonne Moynihan, managing director of Wizz Air UK, said: “We have just launched our biggest-ever network from the UK and in particular from Luton.
“Despite the challenging geopolitical crisis, business goes on as usual. In airlines, we are well used to crises, so we are resilient and we’re well adapted.
“For low-cost airlines like Wizz in the UK, we don’t see any shortage of fuel.”
The airline boss explained that should a shortage arise in the UK, Wizz Air could obtain fuel from other countries – a strategy known as “tankering”.
“We can take more fuel than is required in those destinations,” she said. “We can even fly to other countries and and pit-stop, if you will, if we need additional fuel
“But we’re not seeing an Armageddon situation. We have fuel supply. We have other mechanisms for uplifting fuel.” Wizz Air is Europe’s third-largest budget airline, behind Ryanair and easyJet. Jet2, easyJet and TUI have all pledged to refrain from passing on any extra costs to passengers as a result of rising fuel prices.
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