The global aviation industry is facing a critical jet fuel shortage that could persist for months, with trade groups warning of systemic disruptions comparable to the aftermath of the September 11 attacks. The crisis stems from the effective closure of the Strait of Hormuz by Iran, which has stranded a significant proportion of global jet fuel shipments and forced refineries in Asia to cut production.
Willie Walsh, director of the International Air Transport Association (IATA), stated that unlike crude oil, jet fuel lacks strategic reserves. This absence of a buffer has prompted the aviation industry to take immediate action amid escalating tensions in the region. "Unlike crude, jet fuel does not appear to have strategic reserves," Walsh said, highlighting the vulnerability of the sector.
In Europe, the situation is particularly acute. The European Airport Industry trade body warned that if the Strait of Hormuz does not reopen within the next three weeks, a systemic jet fuel shortage will become a reality for the European Union. Financial Times and Bloomberg reported that industry groups are already preparing for flight cancellations as airport reserves run low. The potential shortage has already led to airlines cutting services and hiking ticket costs across the continent.
The impact extends beyond Europe. In the United States, fuel prices have nearly doubled since attacks by the U.S. and Israel on Iran. The disruption has forced airlines to weigh flight cancellations as supply chains falter. Bloomberg reported that the effective closure of the strait has disrupted global aviation, with refineries in Asia reducing output due to the inability to transport fuel.
Experts caution that even if the Strait of Hormuz reopens, replenishing jet fuel supplies could take months. The combination of geopolitical instability and the lack of strategic reserves has created a precarious situation for airlines worldwide, threatening to disrupt travel schedules and increase costs for passengers in the coming weeks.