Britain most exposed European country to jet fuel shortages ahead of summer getaways
The UK is particularly vulnerable due to its reliance on imports from Kuwait for most of its jet fuel
Britain is the most exposed country in Europe to jet fuel shortages due to its reliance on imports, the boss of Europe's largest airline has warned.
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The UK relies on Kuwait for around a quarter of its jet fuel supply, leaving it highly exposed to shortages caused by the Iran war, the chief executive of Ryanair said.
Michael O’Leary, boss of the Ireland-based airline which employs 26,000 people globally, said: “Of all the European countries at the moment, the one that is most vulnerable is the UK because of the market share that the Kuwaitis have here."
Even if there was a surplus of fuel in the Middle East "you have still got to ship it to Europe and we don't know when or how that happens".
Read more: British Airways owner warns of price hikes - as Jet2 reassures travellers amid fuel crisis
It comes after warnings that rising jet fuel costs could pour cold water on summer holiday plans, with the EU previously stating that it's "very likely people's holiday's will be affected" either by sky-high prices or cancellations,.
Jet fuel averaged $195 a barrel last week according to the International Airport Transport Association - double the average last year.
The closure of the Strait of Hormuz - the key shipping lane through which 20% of the world's oil flows - has led to a leap in oil and gas prices.
However Mr O’Leary said the biggest problem for Ryanair would be supply disruption if the war goes on, rather than rising fuel costs.
“Nobody is willing to give us any assurances into June or July,”he said. "But if there’s a risk to 10% or 20% of the fuel supply in June, July or August, then we and all other airlines would have to start looking at cancelling some flights or taking some capacity out.”
He did not rule out an increase in prices, stating that while the company had no plans to hike fares it was "never in control of pricing".
The airline is also calling on the government to scrap air passenger duty (APD) which went up on Wednesday, adding £2 to every short-haul economy flight.
Mr O'Leary said the tax made air travel in the UK "even less competitive" compared to countries like Sweden, Hungary, Slovakia and regional Italy, where he said governments had abolished similar taxes and seen heightened growth as a result.