The International Air Transport Association’s Director General, Willie Walsh, has sounded the alarm on airfares to Europe—and unsurprisingly, he is not predicting that cheaper days are ahead.
Summer is already an extremely busy time for air travel in Europe, and the mostly closed Strait of Hormuz has pushed fuel prices to the highest levels in years.
“You normally expect to see a 25% increase in flights and fuel requirements in the months of July and August versus, let’s say March,” Walsh said, according to the BBC. “I think the concern will be that if sufficient alternative supply isn’t sourced, there may be some shortages when we get into the peak summer period.”
Walsh also said that even if the war were resolved tomorrow and the Strait was re-opened quickly, a quick fix wouldn’t occur. In fact, he said, the pricing and fare issues would reach into 2027, due to processing slowdowns and damage to refining facilities. Some carriers have discounted fares here and there, but Walsh doesn’t feel that’s sustainable.
“There’s just no way airlines can absorb the additional costs they’re experiencing,” he said. “There may be some instances where airlines will discount to stimulate some traffic flow … but over time, it’s inevitable that the high price of oil will be reflected in higher ticket prices.”
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