TUI Issues Jet Fuel And Price Hike Update

If you’ve booked a 2026 holiday, chances are you’ve heard the words “jet fuel price hikes” more than you’d like.

Following the closure of the key oil and fuel shipping route, the Strait of Hormuz, jet fuel costs have reportedly doubled.

That’s led some airlines to cancel flights, while others are running fewer flights overall. Still, the UK government’s site says “UK airlines say that they are not currently seeing a shortage of jet fuel,” as of the time of writing.

If that sounds a little conflicting, we’ve created a list of everything airlines like Ryanair, easyJet, British Airways, and Jet2 have said so far on the topic.

And recently, TUI provided an update for passengers.

Speaking to The Independent on May 13, the CFO of TUI Group, Mathias Kiep, said: “I’m very much convinced that we will see no shortage in the next 10 weeks. There’s definitely enough fuel.

“We think that the discussion on fuel is a little bit artificial, as we do see no shortages for the next few weeks.” He also told the publication that he didn’t expect shortages even if the Strait of Hormuz remained closed.

This is in line with other airline bosses, like Ryanair’s Michael O’Leary.

The controversial CEO recently told Reuters, “We think the risk of a supply disruption is receding… A month ago, we were saying we’re all fine until the end of May. The fuel companies are now saying they’re seeing no supply disruption risk until the end of June.”

And speaking to Fortune on 14 May, Greg Raiff, the CEO of private jet services company Elevate Jet, went so far as to call reports of jet fuel shortages a “myth”.

Some companies have begun adding surcharges to flights as a way to battle the rising cost of fuel.

The company had previously told customers their “holiday price is fixed, with no fuel surcharges added by TUI”.

But in his most recent update, Kiep said: “I would also see no impact 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. We see that consumption is significantly lower than a year before, and refinery capacity is also up.”