Milan, Apr. 4 (LaPresse) – “The issue of aviation fuel availability is already problematic at some Asian airports.” This was stated by Lufthansa board member responsible for technology, IT and innovation, Grazia Vittadini, in an interview with Die Welt. “The longer the Strait of Hormuz remains blocked, the more critical the security of kerosene supply could become,” the Lufthansa executive added. Since the Strait of Hormuz has not been safe to cross since the start of the war in Iran, supply shortages are already leading to a sharp increase in jet fuel prices, in some cases by more than 100%. Airlines within the Lufthansa Group, however, are only partly exposed, Vittadini said. “For our passenger airlines, the increase in oil prices will still be largely cushioned by a hedging rate covering 80% of fuel needs for the current year. But of course the rise in kerosene prices is also affecting us,” she added.
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