UK tourists planning holidays to Spain, France, and Italy this summer could be set to cash in, as ticket prices are dramatically cut to entice holidaymakers amid jet fuel shortage fears. Financial Times analysis shows prices have declined by 10% or more on 15 sought-after routes, including flights from Heathrow Airport to Nice, Manchester to Palma, and Gatwick Airport to Barcelona.
Price Drops on Popular Routes
Milan and Madrid ticket prices have dropped by as much as 44%, in the most glaring example, the FT added in an update on Monday, May 11, as UK tourists plan European Union holidays and getaways for the months ahead. This comes as UK tourists delay booking while the Strait of Hormuz stays closed. Travel industry insiders told the FT that holidaymakers were "freezing in the headlights".
Industry Warnings
Stuart Fox, Iata’s director for Flight and Technical Operations, wrote: "The recent pressure on the supply of aviation fuel globally due to the war in the Middle East has put a spotlight on something most passengers never think about: the fuel in the aircraft. If the war continues, it won’t be long before we see fuel shortfalls in parts of the world."
The Iata director added: "European fuel supply could come under pressure if the war in the Middle East continues. Using Jet A, which is produced at scale outside the Gulf, could be a practical way to help ease some pressure on existing supply chains. This could give airlines facing a possible shortfall in fuel supply more options. Where applied, it will allow European carriers and airlines from other regions to operate in the same way as many in Canada do, where they switch between Jet A and Jet A-1 as part of seasonal operations."
Current Deals and Airline Responses
Meanwhile, Jet2 is selling return trips from London Stansted to Dalaman in Turkey for as little as £77 return. And British Airways owner IAG, which also includes Aer Lingus of Ireland and Iberia and Vueling of Spain, said it is seeing "some softer demand in the eastern Mediterranean".
IAG stated: "We are confident of jet fuel supply in our main markets throughout the summer. Today the situation is more about the price of fuel than availability." Chief executive Luis Gallego added: "We are actively managing the uncertainty created by the fuel price increase and its impact, taking the necessary action on yields, costs and capacity. We currently see no issues with fuel availability in our main markets."
