United Airlines Holdings IncUnited expects nearly $6 billion additional fuel expense due to shortages.
The months-long closure of the Strait of Hormuz has triggered severe global jet fuel shortages, forcing airlines to cut flights and seek alternative supplies. Europe faces a jet fuel supply deficit of almost 600,000 barrels per day in the third quarter, according to consultancy Energy Aspects, compared with surpluses of around 116,000 barrels per day in the United States and 425,000 barrels per day in Asia-Pacific. Jet fuel prices spiked to a high of $215.32 a barrel in late March before easing to just over $130. Ryanair reported an 11% rise in operating costs after 20% of its unhedged fuel was hit by price spikes, while Southwest Airlines shipped 12.6 million gallons of fuel from Texas to California via the Panama Canal to ease West Coast shortages. United Airlines expects nearly $6 billion in additional fuel expense for full-year 2026 compared with its forecast at the start of the year.
United Airlines Holdings IncUnited expects nearly $6 billion additional fuel expense due to shortages.
Southwest Airlines CompanyJet fuel shortages force Southwest to ship fuel via Panama Canal, increasing costs.
Ryanair Holdings plcRyanair's operating costs rise 11% due to fuel price spikes.