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Europe’s airline industry is at risk of a “systemic” jet fuel shortage in the next few weeks if the Strait of Hormuz blockade continues, with the potential of hundreds of flight cuts, according to experts.
Claudio Galimberti, chief economist at Rystad Energy, told CNBC’s Ritika Gupta on “Europe Early Edition,” on Tuesday that the situation facing airlines “pretty much depends on how many barrels will be flowing through the Strait.”
“The situation within the next three, four weeks can become systemic, so you can have severe cuts of flights in Europe already starting in May and June,” he added.
Traffic through the strategically vital waterway ground to a halt after Iran closed it during the war with the U.S. and Israel, sending oil prices surging.
