Despite concerns from European airlines, Portugal is confident the fuel shortages, that have occurred because of the conflict in the Middle East, will not affect its airport.
Portuguese Government Confident with Jet Fuel Stock
Portugal is confident there will be no jet fuel shortage at the country’s airport in the coming months, despite concerns among European airlines ahead of the summer and winter travel seasons, according to a Reuters report.
Portuguese Infrastructure Minister Miguel Pinto Luz told reporters on Monday that the government was in contact with oil companies and “knows what stock levels are available at national airports,” without revealing how many are in reserve.
Since the conflict in the Middle East began, European airlines have warned the Iran war could trigger jet fuel shortages, as most of Europe relies on the Middle East for about 75% of its jet fuel imports.
Reuters also states that Portugal is better protected from the Iran conflict than other European countries, as Galp Energia, the main fuel supplier at Portuguese airports, gets its crude oil mainly from Brazil.
Airlines begin cutting flights as fuel crisis deepens
While the full effects of the jet fuel crisis have yet to be fully realised in Europe, some airlines are already taking action to alleviate the effects of the Middle Eastern conflict.
The Air France-KLM Group is cutting flights on certain routes, while the Irish carrier Aer Lingus said it would cut around 500 flights over the summer period as concerns grow over the cost and availability of fuel.
Last week, Lufthansa, the German carrier, announced that its CityLine regional subsidiary would cease operating immediately due to concerns about the impact of rising fuel prices on the airline’s bottom line.
The airline also said 27 CityLine aircraft would be permanently removed from service as part of wider cost-cutting measures within the Lufthansa Group.
Since the end of February this year, when the US declared war on Iran, the worldwide supply of oil has been impacted by the Iranian blockade of the Strait of Hormuz. The strait, off Iran’s north coast, sees around 20% of the world’s oil pass through it.
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