"Airlines worldwide have cut around two million seats and axed roughly 12,000 flights from their May schedules in the past fortnight, as mounting pressure on jet fuel supplies forces operators to scale back capacity."
"The closure of the Strait of Hormuz, a vital oil shipping corridor through which roughly a fifth of the world's oil supply passes, has become a focal pressure point in the conflict, with knock-on effects now being felt far beyond the region."
"Investment bank Goldman Sachs has cautioned that fuel inventories in some countries, especially the UK, could fall to critically low levels if disruption continues, raising the prospect of rationing."
Airlines have reduced capacity significantly, cutting around two million seats and cancelling approximately 12,000 flights due to the Iran conflict's impact on fuel supplies. The closure of the Strait of Hormuz, a crucial oil shipping route, has led to widespread cancellations, particularly affecting Gulf carriers. The situation poses a unique challenge for the aviation industry, as concerns shift from price volatility to the physical availability of fuel. Analysts warn that the UK, heavily reliant on commercial stockpiles, may face critically low fuel inventories.
Read at London Business News | Londonlovesbusiness.com
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