European Airlines Prepare for Complete Lack of Fuel in the Near Future

European airports have urged airlines to prepare for a complete fuel shortage in the near future.

On March 30, approximately 7,000 flights were canceled worldwide—approximately 7% of the total number of scheduled departures. The disruptions are due to the sharp rise in the price of jet fuel amid the conflict in the Middle East.

Over the past year, the price of kerosene has more than doubled, from $742 to $1,700 per ton. The very nature of its production is placing additional pressure on the industry: jet fuel requires more complex oil refining, so any restrictions on raw material supplies will more quickly impact the aviation market.

Against this backdrop, companies are already warning of the risk of fuel shortages, and ticket prices have risen by 15-20%.