Holidaymakers planning a trip to Spain who haven’t yet booked their flights are being warned to do so know amid speculation that escalating oil prices could soon drive up the costs
Brits should book their travels soon according to one tourism boss(Image: Geography Photos/Universal Images Group via Getty Images)
A Spanish tourist boss has warned that Brits who haven’t yet booked their summer holidays should book flights as soon as possible to avoid “price fluctuations”.
Jordi Hereu, Spain’s Industry and Tourism Minister, made the comments to Spanish news outlet Expansion yesterday (April 27), warning that growth in the tourist industry could be dampened by rises in the cost of flights. Last year, Spain welcomed 97 million tourists through its borders, and was expected to hit the 100 million mark this year.
He said: “What we’re recommending is that people buy their tickets now because it’s true that (airlines) are currently using kerosene that was purchased some time ago, and therefore there’s an element of price fluctuations involved.”
“It’s already clear that prices have risen and this could affect demand.” he added. He went on to reassure holidaymakers that authorities were looking at ways to prevent fuel shortages as the busy summer season looms.
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But Mr Hereu also warned: “If the countries that send tourists to Spain had problems, we would have them too.”
Many airlines have been foreced to cancel flights this spring and summer due to the rising cost of jet fuel as supplies run law, as a consequence of the closure of the Strait of Hormuz following the Israeli and US attack on Iran.
Keir Starmer said the UK was doing “everything we can” to reopen the Strait, although the UK PM warned: “I don’t want anybody to think that, once the Strait is open, that that’s the end of the damage. It will go on longer than that.”
He went on to tell Sky News: “I can see that, if there’s more impact, people might change their habits… where they go on holiday this year, what they’re buying in the supermarket, that sort of thing.”
Corneel Koster, Virgin Atlantic’s chief executive, told the Telegraph: “I was looking at improving our financial results by a really significant chunk. And then this happens. We have never seen jet fuel at these levels, with prices more than doubling. The industry cannot absorb increases like this.”
In recent weeks, the cost of a barrel of jet fuel has increased from £63 to as high as £148 amid the conflict in the Middle East. The cost of fuel accounts for around a quarter or more of operating expenses for airlines, meaning it can have a big impact on profits.
According to reports by the BBC, the lowest-priced economy tickets currently cost 24% more on average than this time last year. In response, airlines have asked for measures such as a cut or suspension to Air Passenger Duty to be put in place to balance out the costs for consumers.
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A number of airlines have already cut services, such as Lufthansa, which has axed 20,000 European short-haul flights, which it claims will save around 40,000 metric tons of jet fuel. The German airline will offer customers options, including refunding fares or booking them on alternative flights with other airlines.
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