• Lufthansa expects €1.7 billion in additional fuel costs in 2026 due to the conflict in the Middle East.
  • Lufthansa has already canceled 20,000 short-haul flights to save fuel and eliminate unprofitable routes.
  • Europe faces a jet fuel crisis due to the blockade of the Strait of Hormuz, with prices more than doubling by the end of March.
  • EasyJet reported an additional £25 million in fuel costs in March and weaker bookings for the rest of the year.
  • Middle East refineries supply about 75% of Europe’s jet fuel, and Europe is now trying to source fuel from the US and Nigeria.
  • The IEA chief warned that Europe could run out of jet fuel within weeks if it does not secure additional imports.