EU Airlines Risk Jet Fuel Shortages If Hormuz Is Closed Three Weeks

AI Summary

Airports Council International (ACI) Europe warned of potential jet fuel shortages if the Strait of Hormuz remains closed for the next three weeks, as it supplies about 50% of Europe's imports. Last week, European jet fuel prices soared to $1,838 per tonne, up from $831 prior to the conflict. ACI Europe's director-general, Olivier Jankovec, highlighted the potential economic impact on communities and called for EU intervention to monitor production and availability. Air travel contributes €851 billion to European GDP annually and supports 14 million jobs, making the situation significant for the economy.