Germany's Lufthansa is canceling flights en masse — FT
Lufthansa, Germany's largest airline, has announced a major reduction in its flight schedule for the period from May to October.
The Financial Times reports on this.
The reason for this drastic move is the doubling of jet fuel prices, which occurred amid the ongoing war in Iran.
The company plans to remove 20,000 short-haul flights from its schedule to stabilize its financial position and reduce costs.
Starting this week, the carrier is canceling about 120 flights daily, focusing on optimizing routes from hub airports in Munich and Frankfurt.
According to experts’ estimates, discontinuing unprofitable flights will save approximately 40,000 metric tons of fuel.
“In total, 20,000 short-haul flights will be removed from the schedule by October, which is equivalent to approximately 40,000 metric tons of jet fuel, the price of which has doubled since the start of the conflict in Iran,” Lufthansa representatives explained.
The fuel situation in Europe is becoming critical, as confirmed by the International Energy Agency. According to IEA Executive Director Fatih Birol, current jet fuel reserves in EU countries will last only for the next six weeks.
“Europe has about six weeks’ worth of jet fuel left,” warned Fatih Birol, predicting a further wave of cancellations across the continent.
Due to this shortage, EU transport ministers have already convened an emergency meeting to develop a plan to address the energy crisis.
Brussels is considering granting airlines the right to refuel with larger volumes of fuel outside the European airspace.
A temporary suspension of strict rules regarding the use of airport slots is also being discussed to give carriers more flexibility during this crisis.
Spain blocks U.S. flights due to the war with Iran
Energy prices do not reflect the full extent of the supply cuts, analysts note.
