West Asia Conflict: MOT, Aviation Industry Players Meet To Address Fuel Price Surge

KUALA LUMPUR, March 12 (Bernama) -- The Ministry of Transport (MOT) has held a meeting with airline management, airport operators, jet fuel suppliers and aviation sector authorities to coordinate measures to address the impact of the West Asia conflict, which has caused global fuel prices to soar.

Transport Minister Anthony Loke said the meeting, among others, discussed short-term measures to ensure air cargo transport services for goods such as food can continue to operate despite increasingly challenging conditions, particularly ahead of the Aidilfitri celebrations.

In a Facebook post, he said MOT will also engage with airport authorities and relevant stakeholders to support the sustainability of local airlines.

“MOT also acknowledges the challenges faced by airlines. As fuel costs account for nearly half of operational expenses, airlines may need to suspend certain flight operations if fuel prices continue to rise,” he said.

He said airlines will share data with aviation authorities to enable a more comprehensive risk assessment.

Loke said all parties at the meeting also agreed to hold weekly meetings as the crisis in West Asia remains uncertain and requires swift action should there be any new developments.

At a special press conference yesterday, Prime Minister Datuk Seri Anwar Ibrahim said the conflict in West Asia had disrupted oil supplies from the Strait of Hormuz, with more than 400 tankers estimated to be stranded and Brent crude prices reaching USD119 per barrel on March 9.

-- BERNAMA