Jet fuel shortages and surging prices are forcing flight cancellations across the Asia-Pacific, a squeeze that could intensify after the United States began controlling oil shipments through the Strait of Hormuz following failed peace talks with Iran.
Tehran’s effective closure of the strait – a chokepoint for about 20 per cent of global oil supply – is hitting regional airlines, particularly in countries without strategic energy reserves, analysts said. Jet fuel reached nearly US$198 in the week ending on April 10, about double pre-war levels, according to the International Air Transport Association (IATA).
As costs rise and supplies tighten, airlines across the Asia-Pacific are cutting capacity. In Manila, Philippine Airlines said on its website it was “working to minimise disruption” and would review five suspended routes as “conditions improve”.
