In a letter to the European Commission, Airports Council International Europe – the organization representing the interests of European airport operators – wrote that the continent’s airports face a “systemic” fuel shortage if the Strait of Hormuz is not reopened within three weeks. Over 50 percent of the European Union’s jet fuel imports, in fact, come from the Persian Gulf.
THE ALARM FROM EUROPEAN AIRPORTS
In the letter, addressed to Transport Commissioner Apostolos Tzitzikostas and read by the Financial Times, ACI Europe reports that jet fuel stocks are running low, also due to the “impact of military operations on demand.” “If transit through the Strait of Hormuz does not resume significantly and steadily within the next three weeks, a systematic shortage of aircraft fuel is destined to become a reality for the European Union,” the organization wrote.
Moreover, the summer season will soon begin, the period when travel is highest and – according to ACI Europe – “when air transport supports the entire tourism ecosystem on which many economies” of the bloc depend.
THE SITUATION OF PRICES AND SUPPLIES OF AIRCRAFT FUEL
Despite sharp increases in jet fuel prices – the benchmark for Northwestern Europe is above $1,570 per ton, compared to $750 in the pre-war period – and despite the risk of flight cancellations reported by airlines, no severe fuel shortage is currently recorded at European airports: not severe, at least, as in some Southeast Asian countries, which have had to proceed with rationing. However, in four Italian airports – those of Milan Linate, Bologna, Venice, and Treviso – there have been restrictions on aircraft refueling.
THE REQUEST FOR EUROPEAN INTERVENTION
European airlines have said they have enough jet fuel for several more weeks, but suppliers cannot guarantee deliveries for May due to the blockade of the Strait of Hormuz. For this reason, ACI Europe asks the Commission to intervene to monitor the supply situation at the community level and help the sector define a coordinated response to the crisis. “A supply crisis [of jet fuel, ed.] would severely compromise airport operations and air connectivity,” the organization wrote, “with the risk of serious economic repercussions for the affected communities and for Europe in case of a systemic fuel shortage.”
THE WARNING FROM THE INTERNATIONAL ENERGY AGENCY
A few days ago, the director of the International Energy Agency, Fatih Birol, stated that currently, in Europe, there is no physical shortage of aviation kerosene. In a more recent interview with Der Spiegel, however, he specified that, “if the situation does not improve, diesel and kerosene could soon become scarce in Europe. Not immediately, but in the coming weeks.”
