The head of a body representing global airlines said on Wednesday that even if Iran reopened the Strait of Hormuz it would take months for jet fuel supply to recover given disruptions to Middle East refining capacity. ADVERTISEMENTWillie Walsh, director general of the International Air Transport Association (IATA), told reporters in Singapore that while he expected crude oil prices to fall, jet fuel costs were likely to remain slightly elevated due to the impact on refineries. Airlines across Asia have been cutting flights, carrying extra fuel from home airports and adding refuelling stops as the Middle East conflict squeezes jet fuel supply, adding to pressure on an industry already hit by a doubling of jet fuel prices. The pain has so far been sharpest in lower-income, import-dependent markets such as Vietnam, Myanmar and Pakistan after China and Thailand halted jet fuel exports and South Korea capped them at last year’s levels. If crude started flowing again then "I would like to think" that China as well as South Korea would restart their exporting of refined products, Walsh said.

Source: The Telegraph April 08, 2026 05:20 UTC