‘Inevitable’ jet fuel shortages will drive up air fares this summer, says Willie Walsh

Increases in air fares for travellers in Europe are “inevitable” over the peak summer period because of the high cost of jet fuel , according to the head of the international aviation body. While some airlines faced with weak demand have reduced their European fares recently, Willie Walsh , the former British Airways boss who leads the International Air Transport Association, said there was no way carriers could absorb the extra costs in the long run. He told the BBC there was no need to panic over potential jet fuel shortages this summer, and believes that widespread cancellations of flights can be avoided. But he warned rising fuel prices would inevitably push up ticket prices. Even if the strait of Hormuz were to reopen tomorrow, the impact of disruption caused by the US-Israeli war on Iran could still be felt into next year, he said. Iran’s effective closure of the strait, a key shipping route, has sent the cost of jet fuel soaring. “Over time it’s inevitable that the high price of oil will be reflected in higher ticket prices,” Walsh said. “I think the major problem facing the UK is timing,” he added. “You normally expect to see a 25% increase in flights and fuel requirements in the months of July and August versus, let’s say March. “I think the concern will be that if sufficient alternative supply isn’t sourced, there may be some shortages when we get into the peak summer period.” Some long-haul flights have already risen in price. …