UK Jet Fuel Crisis: Ryanair's Fight Against High Prices & Disruptions

UKs Jet Fuel Vulnerability: Ryanairs Boss Warns of Potential Flight Cuts

The UK is at the highest risk in Europe for jet fuel shortages due to the Iran wars impact on Gulf supplies. Ryanairs CEO highlights the heavy reliance on Kuwaiti fuel, making it challenging to ship extra fuel from the Middle East. Jet fuel prices surged to $195 per barrel last week, double last years average, after the Strait of Hormuz closure. This strategic waterway handles over a fifth of global oil flows, leading to flight cancellations worldwide. Although oil prices dipped midweek following Trumps war-ending talks, supply concerns persist. Ryanair, having secured 80% of its fuel at $67 per barrel, faces disruption fears from June to August, potentially causing 10-20% flight cuts. The UKs new air passenger duty hike adds to the challenge, increasing short flights costs and hurting competitiveness. Ryanair is pushing to scrap the tax and expanding its fleet with 29 new planes this summer, keeping a close eye on Gulf routes for future developments.

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