Airlines cut 13,000 flights with fuel shortages looming

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New data shows that airlines have cut 13,000 flights, equivalent to two million seats, in May as the rising cost of jet fuel begins to bite. The largest reduction of flights is in Istanbul and Munich. The cost of European jet fuel has risen from around $830 to more than $1,500 per tonne since the effective closure of the Strait of Hormuz. Many airlines who haven’t cancelled flights have hiked prices. The UK is particularly vulnerable as it imports roughly 65% of the jet fuel it uses. So far, British airlines are not facing supply issues. Their trade body says that they are operating flights as normal. But worse may be to come: the head of the International Energy Agency warned last month that Europe would be affected by jet fuel shortages by June.