German airline Lufthanza has indicated that a prolonged conflict in the Middle East could lead to a shortage of aviation fuel supplies. This is due to attacks by the United States and Israel on Iran, which began at the end of February. Gracia Vitadini, head of the technology department at Lufthanza, told the German newspaper Die Welt: "The issue of fuel availability is already difficult in some Asian airports. The longer the Strait of Hormuz remains closed, the more critical the supply situation will become." Last week, Europe's largest airline group developed plans that include the possibility of grounding some aircraft if demand decreases and fuel prices rise due to ongoing fighting in the Middle East. The company noted that the actual closure of the Strait of Hormuz has led to the holding back of a large portion of global aviation fuel shipments and forced refineries in Asia to reduce production. Vitadini pointed out that, despite jet fuel prices doubling, Lufthanza has largely secured its position through hedging contracts covering 80% of the company's annual fuel needs. However, she added: "But certainly, the increase in jet fuel prices also affects us." Europe is the main importer of aviation fuel, including kerosene, from the Gulf region. Supplies from this region account for about half of the European Union and the United Kingdom's imports, according to data from Fortixa, a leading energy and shipping analyst, compiled by Bloomberg.
