A European airline chief said Monday he had “almost zero concerns” about a jet fuel shortage this summer, echoing oil companies that have downplayed dire warnings about supplies running out.
Concerns of fuel shortages stemming from the Iran conflict had threatened to upend summer travel across the continent — the IEA warned in April that Europe had mere weeks of supply left — but Ryanair’s CEO suggested the crisis has been averted thanks to refiners maximizing production, more energy imports from the US and Africa, and some airlines taking fuel from Russia.
However, he warned that travelers could face higher airfares later, and energy traders still believe the summer will be a “stress test” for the sector, the Financial Times reported.