Philippines’ Marcos says grounding planes is a ‘distinct possibility’

The Philippines says grounding planes due to a shortage of jet fuel brought on by the war in Iran is a “distinct possibility,” according to President Ferdinand R. Marcos Jr.

“Several countries have already told our airlines they cannot fuel their aircraft, so they have to carry fuel there and back,” Marcos said in an interview with Bloomberg News on Tuesday. “Long haul is going to be a much more serious problem.”

Asked whether, inevitably, planes may have to be grounded, Mr. Marcos said “we’re hoping not, but it’s a distinct possibility.”

Airlines in Asia are mapping out contingency plans as the escalating Middle East conflict threatens to trigger the worst oil shock since the 1970s. Because the Philippines relies heavily on imported crude — much of it sourced from the Middle East — it’s more highly exposed than other nations in Southeast Asia to energy shortages and spiraling domestic fuel prices.

Philippine budget carrier Cebu Air on Monday said it plans to reduce flights beginning next month because of surging fuel prices caused by the Middle East crisis, according to a statement.

Elsewhere in Asia, Vietnam Airlines is temporarily suspending flights on some domestic routes while VietJet Aviation JSC is reducing the frequency of flights. Another Vietnamese carrier, Bamboo Airways, said it will try to maintain flights during peak travel periods but has advised services may be fewer than last year if oil prices stay high.

Mr. Marcos’s comments appear to be at odds with a briefing Energy Secretary Sharon Garin gave earlier Tuesday. She said the Department of Energy had on Monday met with airlines and they’d told the agency they have sufficient fuel orders coming in.

“We met them because we wanted to know if they need help in procuring, but they have assured us they’re okay,” Ms. Garin said. — Bloomberg