According to CNBC, the continent must "fight for every cargo" in what analysts have dubbed a "global stress test" for the airline industry.
Europe is actively pivoting to alternative fuel suppliers as Middle Eastern imports remain offline, triggering a scramble for available cargoes.
The tight market has forced carriers to bid up spot prices and lock in long-term contracts at steep premiums, squeezing operating margins.
Analysts caution that prolonged supply constraints could precipitate cash-flow strain across the sector, particularly for smaller carriers already facing elevated debt loads.