Aviation Fuel Prices Remain Elevated Despite Hormuz Relaxation
The Director General of the International Air Transport Association (IATA), Willie Walsh, warns that aviation fuel costs will remain elevated for months even after a possible reopening of the Strait of Hormuz. This is due to damage to refining capacity in the Middle East, which cannot recover quickly despite a ceasefire. This has implications for the aviation industry worldwide, including Cypriot airlines.