European flight prices are falling in the short term as airlines try to overcome customer hesitation caused by economic uncertainty linked to the US-Israel war with Iran, according to Wizz Air chief executive József Váradi.
Váradi said some European airlines are able to reduce fares temporarily because they had purchased fuel in advance at prices fixed before the conflict began. This has allowed carriers to offer lower ticket prices despite rising market fuel costs.
His remarks contrast with several other airlines that have warned of fare increases or flight reductions due to surging jet fuel prices triggered by the conflict.
Jet fuel prices in Europe have risen sharply since late February, when military tensions escalated. Prices reportedly climbed from around $831 per metric tonne to as high as $1,800 before easing to about $1,500, which remains historically elevated.
Europe relies heavily on imported jet fuel, with much of its supply usually coming from the Gulf region. However, disruption around the Strait of Hormuz has raised concerns over shortages, possible delays, and cancellations during the summer travel season.
Despite these concerns, Váradi said fears of severe disruption may be overstated and noted that fuel tankers are being redirected from the United States to Europe to help maintain supplies.
He added that passengers on short-haul European routes may continue to benefit from promotional fares as airlines seek to stimulate demand, while long-haul ticket prices are more likely to rise because many carriers have less fuel price protection.
Meanwhile, Spain’s Industry and Tourism Minister Jordi Hereu advised travellers to book sooner rather than later, warning that airfares could become more expensive if fuel costs remain high.
