The European Union is unlikely to introduce emergency support measures for the tourism sector in response to the conflict with Iran, according to draft guidelines seen by Reuters.
“The current situation does not point to the need for dedicated measures for the tourism sector, unlike during the COVID-19 crisis,” the draft document states. The European Commission is expected to publish the guidelines on Friday.
The ongoing conflict has unsettled global markets and dampened investor confidence, largely over concerns that disruptions could trigger an oil price shock and push inflation higher.
European airlines are bracing for a difficult spring and summer as jet fuel prices have climbed well above $100 per barrel since the hostilities began. Industry officials have also expressed concern that potential fuel shortages could lead to flight cancellations.
