Private Jet Operators Report No Fuel Shortages While Airlines Cancel Thousands of Seats After Strait of Hormuz Closure
Private jet firms and EU officials say fuel remained available even as 20% of global jet fuel normally passes through the strait. Airlines cancelled seats earlier amid supply concerns.
Private jet operators told Fortune they encountered no jet-fuel shortages at any airports they serve, even though 20% of the world’s jet-fuel supply normally transits the Strait of Hormuz. Jamie Walker, CEO of Jet Linx, which manages about 100 planes in 22 locations, said the company saw price increases but no supply interruptions.
“We have not seen any shortage of fuel anywhere, whether it’s domestic in the United States or for European travel,” Walker said.
Greg Raiff, CEO of Elevate Jet, previously gave Fortune the same assessment. Jet Linx jet-card sales rose 80% during the period, Walker said. S. jet-fuel production increased by a factor of six and that the United States is exporting jet fuel to Europe.
Saudi Arabia is projected to ship 118,000 barrels of jet fuel per day in June, according to Reuters, compared with 140,000 barrels per day before the strait closed. European Union Transport Commissioner Apostolos Tzitzikostas stated in early June that Europe faced no current shortage and saw no signs of one developing. “There is currently no jet fuel shortage in Europe.
We have no signs that we will have a shortage in the coming period,” Tzitzikostas said. Tzitzikostas noted that some airlines cancelled routes that were no longer economically viable after fuel prices rose. Raiff previously told Fortune he believed some carriers used the situation to drop less profitable routes.
Earlier, the International Energy Agency said Europe had “maybe six weeks” of jet-fuel supplies left, and commercial airlines cancelled thousands of seats over fuel concerns.
