Holidaymakers worried about the jet fuel crisis derailing their summer holiday plans this year have been given a significant update by Jet2. Iran’s effective shut down of the Strait of Hormuz, one of the world’s most critical energy transit corridors, has triggered a global oil shortage.

Oil exports from the Middle East have ground to a halt compared to earlier this year, leaving European jet fuel reserves severely depleted, meaning many fear their summer plans will be cancelled. However, the UK’s third largest airline announced good news for passengers yesterday that "summer is on". Jet2 said in a statement that it has had "positive updates" from its fuel suppliers and they are gearing up "ready for a busy summer".

Jet2 CEO Steve Heapy said: "We are in regular dialogue with our fuel suppliers, and the current picture is one of increased production and imports, meaning we continue to look ahead with confidence.

"We have already been very clear about our plans to operate our schedule as normal this summer, and our message to holidaymakers is that summer is on."

Mr Heapy added: "This confidence, on top of the incredible value that our award-winning holidays offer right now, means it is a fantastic time to get that well-deserved holiday locked in, and we know that many people are taking advantage of that right now.

"Everything is geared up and ready for a busy summer, and we look forward to welcoming everybody on board and creating fantastic memories with Jet2."

Jet2 was also amongst the first airlines and tour operators in the UK to guarantee customers that there would be no additional charges on any booked flights or holidays to cover rising costs, such as jet fuel.

Te airline's announcement comes after reports that travellers or other airlines will face increased fares due to fuel surcharges being imposed, while others have axed flights altogether.

In total, 20,000 short-haul flights will be removed from the schedule through October, equivalent to approximately 40,000 metric tonnes of jet fuel, the price of which has doubled since the outbreak of the Iran conflict," a spokesperson for Lufthansa said.