Summer holiday plans could be plunged into chaos with European airports facing jet fuel shortages in just three weeks as the Strait of Hormuz remains shut.

Jet fuel reserves are already running low and airports will be gripped by 'systemic' shortages of jet fuel if the passageway is not fully reopened by the end of the month, airport bosses have warned.

The strait, through which 20 per cent of world oil flows, has been choked shut by Iran since the start of the war six weeks ago.

Oil prices have surged globally as a result and sparked fears of a global economic crisis. 

The reopening of the waterway was a key part of Donald Trump's peace deal with the Iranian regime.

But days later it remains blocked with Iran warning vessels they will have to pay a toll of up to $2million per journey or face destruction.

Now airport chiefs fear fuel rationing could be imposed within the EU and the peak summer tourism season could be affected with suppliers unable to guarantee fuel deliveries into May.

It could lead to the disruption of airport services which could risk 'harsh economic consequences'. 

In a letter, reported by the Financial Times, the EU's transport commissioner Apostolos Tzitzikostas warned of 'increasing concerns of the airport industry over the availability of jet fuel as well as the need for proactive EU monitoring and action'.  

It added: 'If the passage through the Strait of Hormuz does not resume in any significant and stable way within the next three weeks, systemic jet fuel shortage is set to become a reality for the EU.'   

It also claimed the upcoming peak summer season 'when air travel enables the whole tourism ecosystem upon which many economies rely' has exacerbated these fears.

No European countries have begun rationing fuel yet although fuel prices have spiked. 

Some Asian nations including Vietnam have, with its national airline cutting 23 domestic flights per week to conserve fuel.

The increase in fuel prices could also see the cancellation of certain routes as they become unprofitable. 

Polish airline LOT is reducing some services while US airline Delta said it would cut its capacity by 3.5 per cent.

Even if the Strait of Hormuz is reopened, the airline sector could still take months to recover - potentially putting holidaymakers' summer plans at risk.

Willie Walsh, director general of the International Air Transport Association (IATA), said jet fuel costs are likely to remain high, affecting airports across the world.

He said this was because of lasting disruption from the war to oil refineries throughout the Middle East.

Jet tycoon Gediminas Ziemelis, the founder of Avia Solutions Group, said the current crisis feels like a repeat of the Covid pandemic. 

Grounded planes, collapsing demand, falling bookings, surging fuel costs and no clear timeline for recovery have left the sector in chaos.

'We need to be ready for any area, district, jurisdiction and geopolitical risk,' Mr Ziemelis said, in an interview with Bloomberg.

'We may see potential first bankruptcies.'