There’s a glimmer of hope for the aviation sector as well as the wider world as a two-week ceasefire between Iran and the US continues, allowing ships through the Strait of Hormuz once again. 
US President Donald Trump has reportedly agreed to suspend the bombing and attack of Iran for a period of two weeks, if Tehran reopens the Strait of Hormuz (pictured), and Iran has agreed to this.
IATA director general Willie Walsh has welcomed the move, reportedly telling Bloomberg that this is a positive for the aviation industry.
“Even two weeks is a positive because we will see some flow of oil return,” says Walsh.
However, he warns that jet fuel and ticket prices will remain elevated for some time.
“If crude has come down 16% you like to think jet will come down by a similar figure but it’s still going to be a high price. That will mean higher ticket prices,” he told the outlet. “It is inevitable.”
Overall, the aviation boss warned that it will still take ‘a period of months’ to get back to where supply needs to be, given the disruption to the refining capacity in the Middle East.
. . . Tourism
On the tourism front, upbeat is Gloria Guevara, president and ceo of the World Travel & Tourism Council, who says history shows that the sector can recover quickly, especially when governments support travellers through hotel support or repatriation.
“Our analysis of previous crises demonstrates that security-related incidents often see the fastest tour ism recovery times, in some cases as quickly as two months, when governments and industry work together to restore traveller confidence,” Guevara says.
Governments have worked tirelessly in recent days to support recovery efforts, she adds, praising them for this.
“Clear communication, strong coordination between the public and private sectors, and measures that reinforce safety and stability are critical to rebuilding trust with travellers and supporting the sector’s recovery.”
Her comments follow analysis from WTTC that revealed the escalating conflict in Iran is already impacting the travel and tourism sector across the Middle East by at least USD600 million per day in international visitor spending, as disruptions to air travel, traveller confidence and regional connectivity affect demand.
