- UK airlines cancelled 296 flights by mid-May as jet fuel prices surged to historic peaks.
- Wholesale fuel costs doubled to $4.50 per gallon following the start of the US-Iran conflict.
- Major carriers like Lufthansa and KLM are reducing summer capacity by millions of seats.
(UK) — UK airlines cancelled 296 flights at airports across the country by Tuesday, May 12, 2026, as jet fuel prices in Europe surged and carriers cut services ahead of the summer travel season.
Cirium data showed the total had more than doubled from 120 cancellations recorded on May 6. The cancellations clustered on short-haul and marginal routes, where fuel costs can erase already thin margins.
The increase followed a sharp rise in wholesale jet fuel prices across Europe since early 2026, driven by the US-Iran war that began on February 28, 2026. Benchmark jet prices climbed from around $2.25 per gallon before the crisis to above $4.50 per gallon by April.
Delivered northwest Europe cargoes averaged $1,557 per tonne since the conflict started, or 90% above the five-year average. Spot prices rose above $200 per barrel, a historic peak.
Disruptions in the Strait of Hormuz and tighter global refining cut supplies from the Mideast Gulf, which provides about half of Europe’s jet fuel imports. Airlines in Europe entered the second quarter with rising exposure as earlier hedges rolled off and spot-market purchases became more expensive.
Jet fuel now rivals or exceeds labor as the largest operating expense for many carriers. European regulators, airline associations and aviation data providers put capacity reductions at at least 2 million seats removed from May and June timetables across the continent.
Lufthansa is cutting 20,000 flights through October 2026, mainly on intra-European routes. KLM has reduced frequencies to major hubs including London.
Volotea has suspended regional routes in France and elsewhere through the end of June. The Spanish airline also introduced post-purchase ticket price adjustments tied to fuel costs and imposed retroactive surcharges on booked tickets.
Across southern Europe, regional routes in Spain and Italy have also been suspended, and airports have warned of further cuts if supplies tighten. Smaller continental airports are already rationing fuel supplies as governments and airlines watch for wider disruption.
Fatih Birol, head of the International Energy Agency, warned in mid-April 2026 that airport fuel pumps could run dry within six weeks without relief. That timeline pointed to possible disruption in late May, when post-Memorial Day travel begins to pick up.
Willie Walsh, director general of the International Air Transport Association, cautioned that the same pressures could spread well beyond Europe. Asia, Latin America and Africa face similar risks as fuel markets tighten and supply chains strain.
European airlines face a sharper problem than U.S. carriers because they import 30-40% of their jet fuel, according to Gordon Ho, a professor at the USC Marshall School. That import reliance leaves them more exposed to seaborne disruptions and price spikes than rivals with stronger domestic supply.
Airlines have responded with a familiar sequence: cutting low-profit routes, raising fares, adding surcharges and increasing checked baggage fees. Those measures preserve cash, but they also push more of the fuel shock onto passengers already booking peak-season travel.
EU officials are considering the release of emergency fuel stocks as carriers and airports press for relief. Chancellor Friedrich Merz said on recent broadcasts that jet fuel supplies remain secure for now,
while the immediate pressure comes from cost rather than outright scarcity.
Demand has not weakened evenly. Premium transatlantic travel remains firm even as short-haul operators pull back, which has widened the gap between stronger long-haul routes and regional services that depend on lower fares and dense schedules.
High jet prices may also alter how Europeans travel this summer. With jet fuel trading at a 61% premium over gasoline benchmarks, more travelers may choose to drive to holiday destinations instead, supporting gasoline demand across Europe.
Fuel-duty cuts add to that shift. Germany extended a temporary energy tax exemption into May, while Sweden and Poland also lowered fuel duties, steps that can make road travel more attractive as airfare and airline surcharges rise.
The immediate effect is already visible in airport schedules. Hundreds of UK cancellations in less than a week, and deeper cuts by some of Europe’s biggest carriers, have turned the region’s fuel shock into a test of how long airlines can keep seats in the market when the price of flying keeps climbing.
