Jet2 issues up-beat statement on fuel supplies

The firm has been in talks with suppliers

Low cost holidays and air travel firm Jet2 says it plans to operate its summer flights as normal, following talks with its fuel suppliers.

The Leeds Bradford Airport-based operator issued an update in which it reiterated it would not make fuel surcharges for passengers. Bosses say they have recently spoken to fuel suppliers who have reported increased production and additional imports from areas unaffected by the Middle East.

Jet2 also said holidaymakers will benefit from swift refunds should their flights or trips be cancelled. Steve Heapy, CEO of Jet2 said: “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. 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.”

He added: “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.”

The update came as the Government relaxed sanctions on Russian crude oil, allowing for the import of jet fuel and diesel refined in third countries, amid surging costs. A trade licence, which came into effect on Wednesday, permits the imports “indefinitely”.

The sanctions carve-out will be periodically reviewed as fuel prices rise due to conflict in the Middle East and effective closure of the Strait of Hormuz. The Government had previously announced the UK would block Russian oil refined in other countries in a bid to “further restrict the flow of funds to the Kremlin”.

Earlier this week, Ryanair boss Michael O’Leary said European airlines were sourcing their jet fuel from alternative countries to overcome the supply shock.

He said: “The conflict in the Middle East has created economic uncertainty and we still don’t know when the Strait of Hormuz will reopen. Despite this, Europe remains relatively well supplied with jet-fuel, with significant volumes sourced from west Africa, the Americas and Norway.”