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Aviation Fuel | Ryanair: Facing a 25% fuel gap from May to June
Fighting in the Middle East continues, and Iran keeps blocking the Strait of Hormuz, driving oil prices higher. Michael O’Leary, CEO of Ryanair, Europe’s largest low-cost airline, warned that if transportation through the strait remains disrupted, Europe’s aviation fuel supply will face shortages in May. From May to June, Ryanair could face a fuel shortfall of up to 25%.
In an interview with Sky News in the UK, O’Leary said that fuel suppliers have been closely monitoring market developments. Most expect that if the war ends in April and the Strait of Hormuz reopens, there is almost no risk to aviation fuel supply. But if the war continues, Europe’s aviation fuel supply in May and June indeed faces the risk of disruption.
Data from the International Air Transport Association shows that about 25% to 30% of aviation fuel in Europe comes from the Persian Gulf region—one of the regions most severely affected globally by the situation in the Middle East.