Impact of Middle East conflict on European air travel

European airlines and passengers face a turbulent summer as the conflict in the Middle East continues to impact fuel supplies. The potential closure of the Strait of Hormuz has created risks of fuel shortages and increased costs for carriers. The European Union currently possesses enough refinery capacity to meet only 70% of its internal demand for jet fuel. Willie Walsh, director general of the International Air Transport Association (IATA), noted that even if the conflict were to end immediately, the market would not stabilize quickly. Tankers transporting fuel from the Persian Gulf to Europe require over 30 days to complete the journey. Consequently, IATA projects that high ticket prices will likely persist for several months even after navigation through the Strait is restored. The aviation sector remains in a state of high uncertainty regarding long-term supply chains.