It is not only the freezing of tourist bookings because of the uncertainty in the programming caused by the war in the Middle East. At the same time as increasing the cost of living, rising air tickets due to fuel and accommodation prices due to operating costs, increasing pressure on the air fuel market increases the already great concern about the potential impact on European and, consequently, Greek tourism, in view of the summer season.
Although extensive deficiencies are not recorded so far, the first signs of instability in the supply chain do not leave room for complacency in the tourism sector directly dependent on air availability and energy costs. It is stressed that Europe is the main importer of air fuels – including kerosene – from the Persian Gulf, with supplies from this region representing about half of the imports of the European Union and the United Kingdom, according to data collected by Bloomberg News.
The Developments in Italy They acted as a warning signal for the European market. Four airports in the country —the Linate of Milan, the Marco Polo of Venice, Bologna and Treviso— They went into restrictions on aircraft refuelling due to reduced fuel availability of type Jet A1.
Air BP Italia, one of the main fuel suppliers, issued a notice to the airlines, informing of the limited availability and management measures. In particular, Venice Airport provides for priority to be given to refueling for medical and government flights, as well as flights over three hours, while for smaller flights up to 2,000 litres per aircraft is set. Similar restrictions apply to Bologna and Treviso airports.
The measures are of a temporary nature, with effect from 2 to 9 April, and despite the assurances of the authorities that this is a manageable matter related to a particular supplier, this development highlights the limited strengths of the system.
What happens in the United Kingdom
At the same time, the United Kingdom - which is the second largest "port" of revenues and visitors to Greek tourism - is listed as one of the most vulnerable markets in Europe in terms of air fuel adequacy.
The United Kingdom covers about half of its needs in jet fuel from the Middle East, following the interruption of imports from Russia due to the invasion of Ukraine and the reduction of domestic production, according to a Financial Times report. The government assures that there is no need for concern and calls on citizens to plan their summer trips properly. However, market players warn that deficiencies could arise if the conflict in the Middle East region continues.
Analysts point out that airlines may begin to have greater consequences after the end of April, if supply problems remain.
Monitoring developments
Tourism operators are closely monitoring developments and, in particular, fuel prices and potential impact on airlines' routes, as any cost increase is directly translated into package costs and accommodation prices. Sources from the hotel site note that impact on incoming tourism and the completeness of hotels cannot be excluded in the next period.
For his part, the new CEO of Athens Airport, George Kallimasias, informed analysts on the occasion of the publication of the results of the 2025 year, assured that there is no issue with kerosine reserves. In response to an analyst's question, he said that both Athens Airport and the refining companies, which produce the air fuel, have strategic reserves.
