Aircraft, down in the stock market due to the non-opening of Hormuz
Fuel shortages are feared in the coming weeks. Analysts say Ryanair and IAG have the strongest balance sheets to cope with the crisis
by Mara Monti
The prospect of a long blockade of the Hormuz Strait is putting pressure on airline stocks, which are in negative territory after the failure of the first round of talks between Iran and the United States. In particular, low-cost airline stocks are in negative territory from Wizz Air, the most exposed to the Middle East, losing 6.8 per cent, EasyJet 4.1 per cent, Ryanair 3.0 per cent.
It has been rumoured for days that the European aviation sector risks facing a potential 'systemic' shortage of jet fuel within three weeks, due to the ongoing blockade of the Strait of Hormuz, which begins to sever the continent's main energy arteries.
The warning underlines the extreme vulnerability of the European transport sector to the cross-strait blockade that is currently choking the world's most vital oil corridor.
Germany's Lufthansa is also in negative territory by more than 4% as it faces another two-day pilots' strike over pension issues, threatening further disruptions just days after the end of the cabin crew strike. The Vereinigung Cockpit union has called a pilot strike from 00:01 on 13 April to midnight on 14 April.
Other airlines also traded in negative territory on the stock exchange: Air France_KLM -4.35, IAG (British Airways and Iberia) -3.3 per cent.
