Higher airfares for travelers in Europe will be inevitable due to the high cost of jet fuel, said the head of the International Air Transport Association, Willie Walsh.
Although some airlines have recently reduced their ticket prices in Europe due to low demand, Walsh said there is no way for the companies to absorb the additional costs in the long term.
Speaking to the BBC, he said there were still concerns that the UK industry could face fuel shortages during the summer, although he stressed there was no reason to panic.
However, he noted that even if the Strait of Hormuz were to open tomorrow, the effects of the disruptions caused by the conflict in the Middle East could continue into next year.
A British government spokesman, cited by the BBC, says that UK airlines "are clear that they are not currently experiencing a fuel shortage for aircraft."
Walsh, however, insists on his concerns about British carriers.
“I think the main problem is timing,” he says. “Under normal circumstances, you would expect about a 25% increase in flights and therefore fuel needs in July and August compared to, for example, March.”
"The concern is that, unless sufficient alternative supplies are secured, there could be shortages at the peak of the summer season."
The increase in fuel prices has already been reflected in the cost of long-haul flights, the report notes. On the other hand, according to airline executives, some European fares have fallen because companies are offering discounts to convince hesitant travelers to book their tickets.
Walsh, however, believes this phenomenon cannot last. "There may be cases where companies will offer discounts to increase traffic. But over time it is inevitable that high oil prices will lead to more expensive tickets."
In this environment, a British government spokesman estimates that fuel suppliers are maintaining stocks and that the government is considering measures that will help airlines plan realistic flight packages.
Source: skai.gr
