Airlines canceled 13. 000 flights in May as jet fuel prices more than doubled since the start of the war, removing nearly two million seats from the market, according to BBC and The Guardian. Istanbul and Munich recorded the largest drops in flights, with Turkish Airlines and Lufthansa making significant cuts; Lufthansa alone has cut 20,000 short-haul flights, mostly operated by its CityLine subsidiary.

Jet Fuel Prices and Industry Response

The price of jet fuel has surged from $831 per tonne in late February to a peak of $1,838 in early April, according to BBC. Analysts at Goldman Sachs warned that the UK is the most exposed country in Europe to potential jet fuel shortages due to its high import reliance, low inventory, and reduced domestic refining capacity.

Goldman Sachs said UK jet fuel stocks could fall to “critically low levels,” increasing the likelihood of rationing measures. The UK government announced that it would relax slot rules to allow airlines to cancel flights without losing landing rights, particularly for routes with multiple flights to the same destination on the same day.

Operational Adjustments and Consumer Impact

Most UK-based short-haul airlines are well hedged on jet fuel and do not expect immediate cost increases, according to The Guardian; EasyJet and Wizz Air have pledged to operate their summer schedules in full despite pressure on the unhedged portion of their fuel bill. Air France, KLM, Air Canada, Delta, and SAS have already adjusted their summer schedules.

Industry groups said airlines are operating normally and not currently facing supply issues, but they welcomed the government’s contingency measures, as the trade body for British airlines said it will assess underperforming flights and cancel or consolidate as needed. The travel agents’ trade body Advantage Travel Partnership noted that UK departures to key summer destinations remain unaffected.

Supply Chain Concerns and Government Measures

Despite current supply visibility of about six weeks, international agencies have warned that jet fuel shortages in Europe could occur if the war in the Middle East continues to disrupt supplies. The UK government said it may take “unusual measures” in advance to avoid late disruptions for holidaymakers over the summer.

Jet fuel prices have more than doubled since the US-Israel attack on Iran and the closure of the Strait of Hormuz, according to The Guardian. The UK government has said it will not allow the current situation to impact summer travel plans, allowing airlines flexibility to adjust their schedules without losing landing rights.