Turbulent Takeoff
This summer travel season has been marked by widespread flight cancellations, airport chaos and lost luggage. Amidst this disruption, the European jet fuel market is going through an interesting period given higher demand for air travel this summer. So far in 2022, ARA jet fuel prices have increased by 55%, which represents a 128% gain since March 2020 when travel demand started to fall in response to travel restrictions that saw jet fuel prices nosedive. Many were unsure if higher jet fuel prices would lead to reduced demand by travellers for air travel, it appears pent up post Covid-19 demand has been and continues to be strong enough to offset higher ticket prices for the time being.
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