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2026-04-05 20:00:50
[Jet Fuel Prices Double: Strait of Hormuz Chokes Global Aviation Industry] In recent weeks, jet fuel prices have surged from $85-90 per barrel to $150-200 per barrel, posing a significant challenge to the global aviation industry. Many airlines have begun adjusting their operating strategies. On April 4th, local time, Manix Fortmar, Chairman of the Representative Committee of KLM Royal Dutch Airlines, warned that if shipping through the Strait of Hormuz continues to be disrupted, airlines may face pressure to cancel flights within six weeks. Benjamin Smith, CEO of Air France-KLM Group, stated that the company is preparing for potential fuel shortages. Michael O'Leary, CEO of Ryanair, Europe's largest low-cost carrier, said on April 1st that the airline may face a fuel supply shortfall of up to 25% in May and June, with overall European jet fuel supply expected to tighten in May. O'Leary also said that there is a possibility of a significant increase in airfares from April to June. (CCTV Finance)
