Higher jet fuel prices and the resulting need for higher airfares threaten to cause airlines to cancel more flights this summer.
This is what Stefano Baronci, who is Asia and Middle East manager at the international airport industry body ACI, says in an interview with Bloomberg News.
However, aviation fuel is not expected to run out.
”Price is the real concern for airports because it will affect ticket prices,” he says.
Jet fuel prices rose to over $200 per barrel for much of April in the wake of the Iran war, but have since fallen back to around $150 per barrel. However, Stefano Baronci warns that prices are not expected to fall anytime soon.
According to ACI, which surveyed 28 members operating 88 airports, a majority of airports in Asia and the Middle East have ”comfortable” access to 10-20 days of jet fuel. However, 60 percent of respondents warned that jet fuel availability began to tighten in mid-April.
The international energy agency IEA has previously warned that jet fuel in Europe could reach critical levels in June.
Several airlines have already reduced the number of scheduled flights due to the cost increases.
Source: Nyhetsbyrån Direkt-DI.SE
