Jet2 joins Ryanair in summer holiday update as CEO gives fuel latest
Jet2 has issued a hefty update on its summer holiday flight plan, echoing a message put out by Ryanair this week.
The airline, based out of Leeds Bradford Airport in West Yorkshire, is one of many budget airlines to update its travel advice when it comes to travelling with it during the peak summer period, all while the Iran War and fuel crisis caused by the Strait of Hormuz blockade rumbles on.
And the update is positive from Jet2 CEO Steve Heapy.
In a statement on Wednesday (20 May), he said fuel production was actually looking more positive than it has been during the ongoing crisis.
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"We are in regular dialogue with our fuel suppliers, and the current picture is one of increased production and imports, meaning we continue to look ahead with confidence," Heapy said in a company statement.
"We have already been very clear about our plans to operate our schedule as normal this summer, and our message to holidaymakers is that summer is on.”
Labelling the development as increased 'confidence' the company has for its summer schedule, Heapy said staff are 'geared up for a busy summer'.
He said: “This confidence, on top of the incredible value that our award-winning holidays offer right now, means it is a fantastic time to get that well-deserved holiday locked in, and we know that many people are taking advantage of that right now.
"Everything is geared up and ready for a busy summer and we look forward to welcoming everybody onboard and creating fantastic memories with Jet2.”
Jet2 has increased its imports from areas unaffected by the Middle East conflict between the USA and Iran, echoing a strategy seen across other airlines including Ryanair.
Ryanair message echoes Jet2
Ryanair says you are extremely unlikely to see flights cancelled due to the fuel crisis due to it having a fixed price for 80% of its fuel until April 2027 - but a warning over the price of its seats has been issued.
Known as fuel hedging, the Irish airline has agreed $67 per barrel until then, compared to the more than $150 per barrel highs we've seen in recent weeks.
"Ryanair’s conservative jet-fuel hedging strategy will insulate [Ryanair] earnings in the current very volatile oil markets and widen the cost advantage over EU competitors for the remainder of FY27," Ryanair CEO Michael O'Leary said when speaking on any potential flight risks.
And Neil Sorahan, Ryanair's CFO, has said he is 'increasingly confident that we will not see any supply shocks this summer'.
Russian fuel allowed
In a controversial move, Prime Minister Sir Keir Starmer has softened the pressure on fuel supply by allowing Russian diesel and jet fuel to enter the United Kingdom.
It's the first move Starmer has taken to soften his stance on sanctions against Russia since its invasion of Ukraine in 2022.
A new licence on the matter was published allowing fuel to be imported in to the UK 'indefinitely' but only if it has been refined in other countries.
Roughly 20 percent of the world's fuel comes through the Strait of Hormuz.
Tom Earnshaw