Transport ministry and industry leaders coordinate on measures to address soaring fuel costs and ensure cargo services ahead of Aidilfitri.
KUALA LUMPUR: The Ministry of Transport has convened a meeting with key aviation players to address the impact of soaring global fuel prices caused by the West Asia conflict.
The meeting included airline management, airport operators, jet fuel suppliers and aviation sector authorities to coordinate measures.
Transport Minister Anthony Loke (pic) said the discussions focused on short-term measures to ensure air cargo services for essential goods like food can continue operating.
This is particularly crucial ahead of the upcoming Aidilfitri celebrations amid increasingly challenging conditions.
Loke stated that the ministry will also engage with airport authorities and stakeholders to support the sustainability of local airlines.
He acknowledged the severe challenges airlines face, with fuel costs constituting nearly half of their operational expenses.
“If fuel prices continue to rise, airlines may need to suspend certain flight operations,” Loke said in a Facebook post.
To enable better planning, airlines have agreed to share data with aviation authorities for more comprehensive risk assessment.
All parties also agreed to hold weekly meetings due to the ongoing uncertainty of the crisis in West Asia.
This allows for swift action should any new developments occur.
Prime Minister Datuk Seri Anwar Ibrahim highlighted the severity of the situation at a press conference.
He said the conflict has disrupted oil supplies from the Strait of Hormuz, with over 400 tankers estimated to be stranded.
Brent crude prices reached USD119 per barrel on March 9 as a result of the supply disruption.