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(Bloomberg) — Vietnam Airlines will temporarily suspend flights on some domestic routes as jet fuel shortages and rising fuel prices caused by the conflict in the Middle East start to impact the nation’s air travel.
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The national flag carrier will cut around 23 flights per week from April 1 over tightened supplies of jet fuel, according to a statement from the Civil Aviation Authority of Vietnam. VietJet Aviation JSC is also reducing flights on some routes, according to schedules on its booking website.
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Bamboo Airways will strive to maintain flights during peak travel periods, though frequencies may be lower than last year if oil prices stay high, the airline said in a statement. It also called on the government to offer more support to airlines, including further reductions in environmental protection tax and aviation fuel taxes.
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Vietnam has moved to shore up energy security after the Iran war all but halted oil and gas exports through the Strait of Hormuz, leading to fuel price hikes and long queues at gas stations. The nation has two domestic refineries that provide around 70% of its domestic needs, however more than 80% of the crude oil it imports comes from Middle East.
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The aviation agency warned earlier this month that jet fuel shortages could emerge from early April as suppliers are delaying deliveries or may invoke force majeure clauses to terminate contracts. Around 70% of Vietnam’s jet fuel is imported, primarily from China and Thailand.
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Elsewhere in Southeast Asia, Philippine budget carrier Cebu Air plans to reduce flights beginning April because of surging fuel prices caused by the Middle East crisis, the airline said in a statement Monday.
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—With assistance from Nguyen Kieu Giang and Linh Vu Nguyen.
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