TUI issues 10-week fuel shortage update as 'millions face cancelled summer flights'

TUI has issued a fresh statement on any future fuel shortage this summer amid concerns from UK airports that millions of Brits could face cancellations during the busiest holiday season of the year.

With the Iran War showing no signs of slowing down just yet, and the Strait of Hormuz remaining at an impasse for tankers looking to travel through, fears are growing across the world around what time we might 'run out' of fuel, and how this might impact industries that are heavy on their consumption, such as travel.

And while Ryanair is already cutting its routes for later this year, with 700,000 seats lost across Europe, TUI is doing its best to calm passenger nerves.

Mathias Kiep, CFO of Tui Group, told The Independent: “I’m very much convinced that we will see no shortage in the next 10 weeks. There’s definitely enough fuel.”

Kiep added: "We think that the discussion on fuel is a little bit artificial as we do see no shortages for the next weeks.

"I would also see no impact in in the summer at all except prices - and for the higher prices we are luckily hedged. We do see that Europe now gets more oil from other countries like Nigeria because the increased prices made the production there profitable."

Oil tankers and gas tankers sat waiting to move through the Strait of Hormuz (Getty)

'Millions face delays'

It comes as Heathrow and Gatwick are among airports that are reported to have written to ministers opposing proposals to let airlines scrap flights in advance without risk of punishment.

There's also worry this could cause a jump in prices if flights are indeed cut with no fines issued.

Under current rules, airlines can scrap up to 20 percent of their peak-time airport slots while retaining the right to fly them the following season - a rule airports say is already lenient enough when it comes to allowing for a certain amount of cancellations.

But under new Labour Government rules, this 20% limit could be eased to reportedly allow for more than 100,000 cancellations during the Iran War fuel crisis. More details around this are expected to be confirmed within days.

IAG, the owner of British Airways, said that it expects its airlines to operate across the entirety of summer. And easyJet has issued messaging to passengers about 'booking with confidence promise', aiming to run a full schedule.

But one airport insider told The Telegraph: “The airlines have been at pains to make clear that there is no fuel shortage, as has the Government. So why would it be necessary to clear the way for potential cancellations that would impact millions of people?"

More flights are being cancelled (Getty Stock)

Flight cancellations are rising

Due to the fuel crisis, flights are already being cancelled at an increased rate.

Data from aviation analytics company Cirium has revealed 296 cancelled departures from UK airports this month up to Tuesday (12 May).

This is an increase of roughly 150%, with the cancellation number sitting at 120 for the six days previously.