Lufthansa Grounds 27 Aircraft as Jet Fuel Prices Surge 70% Amid Supply Crisis

The European energy crisis has intensified as jet fuel prices surged by 70% since the conflict began, severely threatening the financial stability of regional airlines. The Director of the IEA attributed the shortage directly to the ongoing blockade in the Strait of Hormuz, reiterating that reserves could be depleted within six weeks. In a significant escalation, Lufthansa (LHA.DE) has grounded 27 aircraft and terminated various flight offers to mitigate rising costs. This surge in fuel prices is now causing global flight connections to disappear, marking a systemic shift in international air travel accessibility. Meanwhile, the European Union is drafting an emergency plan to maximize refinery output and stabilize fuel distribution. Market participants are closely monitoring how the loss of global connectivity and operational shutdowns will impact long-term airline revenues.