-- The European Union is preparing measures to deal with a looming shortage of jet fuel, amid the supply crunch resulting from the war in Iran, according to a Reuters report, citing officials familiar with the matter.
This comes as European airlines warn of shortages within weeks, with the continent reliant on Middle Eastern flows to meet 75% of its jet fuel demand.
According to a draft proposal seen by Reuters, the Commission plans an EU-wide mapping "to ensure that existing refining capacity is fully utilised and maintained."
In the longer term, the bloc also plans measures aimed at jet fuel supplies, but noted that these were still in development.
Airlines are already preparing for a potential supply crunch, with Lufthansa CTO, Grazia Vittadini, telling Reuters that the company's suppliers are "changing their forecasting windows, and they're no longer keen to give an outlook over a time window that goes beyond one month."
Across Europe, the distribution of jet fuel is uneven, with Spain a net exporter with eight refineries, while the UK imports 60% of what it needs.
The European Commission did not immediately respond to' request for a comment on this story.
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