The budget airline estimates it will book about £25 million in additional fuel costs for March and £30 million in increased legal provisions across some historic cases.

Speaking to the Associated Press on Thursday, the head of the International Energy Agency warned Europe had "maybe six weeks or so" of jet fuel left. It's an increasingly dire shortage that could lead to massive disruptions in air travel if oil supply doesn't change quickly.

A looming jet fuel shortage in Europe and Asia could compound the Iran war's impact on world travel within weeks if a fragile agreement to reopen the Strait of Hormuz collapses, making higher airfares and

Airlines are facing higher costs, and one airport group in Europe has warned of the risk of a "systemic jet fuel shortage" if traffic through the Strait of Hormuz doesn't normalize by the end of this month.