EUROPEAN AIRPORTS ARE SOUNDING THE ALARM - THE POSSIBILITY OF FUEL SHORTAGE DUE TO THE STRAIT OF HORMUZ IS VISIBLE - Filenews 10/4
Europe may face a systemic shortage of jet fuel if the Strait of Hormuz does not reopen "substantially and steadily" within the next three weeks, the airport industry warns.
The International Airports Council of Europe (ACI) – which represents over 600 airports across the continent – called on the EU to take immediate action to avoid such a scenario, in a letter to the European Commission yesterday, obtained today by CNNi.
Some of the measures he proposed include collective purchasing by the EU and a temporary relaxation of regulations that hinder the continent's ability to import jet fuel.
The group also urged the European Commission to carry out its own assessment and monitoring of the production and availability of jet fuel.
If a supply crisis occurs, the group warned, this will severely disrupt air travel and "significantly damage the European economy", exacerbating the impact of rising oil prices.
Any fuel shortage will affect Europe's exports, 26% of which are handled through airports, as well as citizens, as the peak summer travel season approaches, the group noted.
CNN has reached out to the European Commission for comment.
Jet fuel prices have doubled since the U.S. and Israel entered a war with Iran, and supplies are likely to remain limited for months even if Iran quickly opens the Strait of Hormuz, Willie Walsh, director general of the International Air Transport Association (IATA), said on Wednesday.
