Holiday Flights Secured: Austria's Kerosene Stocks Highest in Years

Fears of widespread flight cancellations at the start of Europe's holiday season have been definitively allayed. Commercial kerosene stocks surged 56.66 percent in May compared to April, reaching the highest level in at least five years, according to the Energy Ministry. This significant increase has eased concerns about potential fuel shortages.

Annette Mann, CEO of Austrian Airlines, had previously dismissed concerns about fuel scarcity at European airports as "completely exaggerated." The crisis in the Middle East, particularly following the Iran war and the closure of the Strait of Hormuz, had initially raised fears that kerosene would be the first fuel to run out for the West.

However, Europe has managed the situation through increased imports from the United States and Africa, alongside expanded production at European refineries. For Vienna Airport, proximity to the OMV refinery in Schwechat proved advantageous, with 90 percent of its kerosene supplied from just kilometers away.

Despite the secured fuel supply, the conflict in the Middle East will still affect many holidaymakers this summer. While prices for diesel and gasoline have recently decreased, they remain above their early-year levels. Kerosene costs, in particular, are reportedly double what they were before the conflict.