Europe is facing a critical shortage of jet fuel, with only about six weeks’ worth of supply left due to the ongoing conflict in the Middle East. This situation has led to major airlines being forced to ground flights.
Fatih Birol, the executive director of the International Energy Agency (IEA), expressed concerns that flights could be canceled soon if oil supplies continue to be constrained by the conflict in Iran. Iran’s control over tankers navigating the crucial Strait of Hormuz is exacerbating what Mr. Birol described as the most significant energy crisis to date.
He emphasized that Asian countries like Japan, India, and China, which rely heavily on energy resources from the Middle East, are the first to feel the impact, with Europe and the Americas expected to face similar pressures in the near future.
According to the IEA director, Europe has just six weeks’ worth of fuel left, and if the situation in the Strait of Hormuz persists, it could lead to flight cancellations due to a shortage of jet fuel.
Several airlines have issued warnings about potential flight cancellations if the crisis continues. Swedish flag carrier SAS, for instance, announced the cancellation of 1,000 flights in April due to soaring oil and jet fuel prices, following a previous cancellation of a few hundred flights in March.
Various airlines, including United Airlines and KLM, have already started canceling flights in response to the fuel crisis. For instance, United Airlines plans to cancel 5% of its flights in the second and third quarters of 2026, while KLM has scrapped 160 flights for the upcoming month.
Other airlines, such as Asiana, Cathay Pacific, HK Express, Lufthansa, Vietnam Airlines, Air New Zealand, and Norse Atlantic Airways, are also adjusting their flight schedules and reducing operations due to the escalating fuel costs.
Despite concerns raised by major airlines like British Airways, Ryanair, and easyJet about potential impacts on ticket prices and schedules, they have not yet canceled flights directly due to the fuel shortage. However, British Airways has decided to halt its London Heathrow to Jeddah route, citing shifting demand as the reason.
EasyJet, one of the affected carriers, reported significant losses of approximately £25 million in heightened jet fuel expenses last month. The airline expects to announce a headline pre-tax loss ranging from £540 million to £560 million for the six months ending in March, primarily due to the ongoing conflict in the Middle East.
The uncertainty surrounding fuel costs and customer demand has further exacerbated the challenges faced by airlines, leading to decreased bookings for the upcoming months. As a result, easyJet’s shares experienced a sharp decline of up to 9% in early Thursday trading, eventually stabilizing around a 4% decrease.
The impact of the fuel shortage is rippling through the airline industry, prompting carriers to make difficult decisions to mitigate the financial and operational challenges posed by the ongoing crisis.