Airlines cut over 2 million seats - Possible reason, fear of fuel shortage
Airlines are making massive route cuts, removing around 2 million seats from their May flight schedules, the Financial Times reported, amid growing fears of fuel shortages caused by tensions in the Middle East and turmoil in global energy markets.
According to analytics firm Cirium, the total number of available seats has fallen from 132 million to 130 million in just a few weeks, while around 12,000 flight cancellations have already been recorded. The supply crisis is starting to significantly affect the global aviation industry.
The price of jet fuel has nearly doubled since the start of the US-Israeli conflict with Iran, causing the largest energy crisis in history. A decisive role was played by Tehran's decision to block the Strait of Hormuz, through which about 20% of the world's oil passes, causing a serious disruption to fuel supplies.
According to the International Air Transport Association (IATA), the average price of jet fuel reached $181 per barrel, marking a 1% increase in just one week.
Airlines are canceling flights and replacing large aircraft with smaller ones to cut fuel consumption. Lufthansa has already removed about 20,000 flights from its schedule through October, while Air France-KLM and other European carriers are significantly reducing capacity.
In Asia, Air China has reduced domestic routes, while in North America, Spirit Airlines has suspended operations, largely due to the fuel crisis affecting the industry.
The European Commission is urging airlines and member states to prepare for all scenarios. "Nobody knows how long this situation will last. The most effective thing we can do is to prepare for all eventualities," a Commission spokeswoman said.
European governments are considering measures to deal with the crisis. In Britain, the government is allowing airlines to combine passengers from different flights onto fewer planes, in a bid to reduce fuel consumption.
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