Chaos is prevailing in aircraft flight scheduling for the coming months, as tensions in the Middle East have driven fuel prices to record highs, with airlines bracing for the risk of energy shortages.
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According to data from aviation analytics company Cirium, cited by the Financial Times, the fuel supply crisis has already resulted in the loss of approximately 2 million seats from May flight schedules. The total number of available seats dropped from 132 to 130 million within just a few weeks, while approximately 12,000 flight cancellations have been recorded.
Factors behind the fuel price surge
The crisis was triggered by the dramatic increase in aircraft fuel prices, which have nearly doubled since the start of the US-Israel conflict with Iran, leading to chain reactions in energy markets and confronting the planet with the largest energy crisis in history.
A decisive factor was Tehran’s decision to block the Strait of Hormuz, the strategic maritime passage through which approximately 20% of global oil passed. The disruption of this flow has caused serious disturbances in fuel supply.
As noted by the International Air Transport Association (IATA), the average price of aircraft fuel reached $181 per barrel, recording a 1% increase within one week, following months of intense fluctuations.
