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Parked planes of the Philippine Airlines at the Ninoy Aquino International Airport.
STAR / File
MANILA, Philippines — Despite fluctuating global oil prices, flag carrier Philippine Airlines (PAL) said it has locked in enough jet fuel to keep its domestic and international operations running.
In a statement on Wednesday, March 25, the PAL confirmed it has sufficient fuel supply to maintain its scheduled operations for the foreseeable future, including its critical long-haul flight routes.
“PAL has secured sufficient jet fuel supply to support scheduled operations… for the foreseeable future,” PAL’s statement read.
The airline acknowledged that global supply conditions remain dynamic, requiring a proactive approach to resource management.
As part of its prudent planning and risk mitigation strategies, PAL said it is maintaining close coordination with its fuel suppliers, industry partners, and various government stakeholders.
Due to the tensions in the Middle East, oil supply has been scarce around the world, as the Strait of Hormuz — where 20% of global oil supply passes through — has been “blocked” by the Iranian Navy.
The shortage of energy prompted President Ferdinand Marcos Jr. to declare a state of national energy emergency, citing risks to the country’s energy supply as global oil markets tighten.
Some oil companies are even expected to increase 146.85% from current prices if fuel surges do not stop by May.
Marcos said in a previous interview that the grounding of aircraft in the country is a "distinct possibility" due to jet fuel shortages caused by the conflict in the Middle East.
This statement followed notifications from several countries informing Philippine carriers that refueling services are currently unavailable.
Consequently, Marcos said that local operators have been forced to carry enough fuel to cover both outbound and return trips, according to a Bloomberg report.
