Continued from page 48
geographic distribution of refining capacity and underscores the case for accelerating the energy transition.” The Strait of Hormuz
“accounted for about 23% of global jet fuel exports”, with Europe the destination “for roughly 80%” of these, and the loss of this supply had triggered “fierce competition for the limited amount of jet fuel available”. Iata warned: “The global
energy system cannot withstand disruptions of this magnitude unless significant demand destruction takes place.” It noted: “Global refining
capacity increased by 16% over the past 20 years, while Europe’s refining capacity declined by 20%. Europe is now more vulnerable to supply disruptions.” Crucially, Iata argued: “This makes any predictions of a swift return to normal jet fuel flows illusory.” In a separate report,
management consultancy Bain & Co forecast the impact would extend for years, suggesting global air traffic in 2030 would remain at least 10 percentage points below the level forecast pre-February of 138% of 2019 levels. Bain & Co suggested:
“Seasonality is expected to become more pronounced, with already-marginal winter routes more likely to be cancelled or see reductions in frequency.” A sobering sign of the more
immediate impact on the UK economy came in a data release from the Office for National Statistics which indicated the number of potential redundancies in the week to May 24 was 62% up on the equivalent week in 2025. The financial pressures on
households and businesses are set to intensify.
UK to invest £1.3bn in Universal’s new park
Ian Taylor
The UK government has agreed to spend £1.3 billion to support the construction and opening of a £5 billion Universal theme park in Bedfordshire by US entertainment group Comcast. The Universal resort, due to
open in 2031, would be among the biggest investments in UK tourism. Chancellor Rachel Reeves confirmed the taxpayers’ contribution last week, declaring it “one of the most significant investments made in the UK during this parliament”. Comcast has committed an
additional £1 billion in investment during the first decade of the park’s operation. Its construction is expected to employ 20,000 and the park will have a workforce of 8,000 once open. Universal’s first theme park in
Europe will rise on the 500-acre site of a former brickworks in Kempston Hardwick near Bedford.
town of Wixams in Bedfordshire on the Thameslink line. A second east- west rail station at nearby Stewartby is expected to open in the early 2030s. Comcast’s theme park division
Universal United Kingdom Resort
The government will provide
£400 million from its Exceptional Regional Growth Fund, set aside for “game-changing projects” by multinational businesses, and £438 million of Department for Culture, Media and Sport funds for investment in community infrastructure. Both grants will be made once the park opens. The Department for Transport
will provide a further £474 million to upgrade the road and rail network around the theme park site, enlarging the planned railway station for the new
NBCUniversal said the park, close to London Luton Airport, should draw 8.5 million visitors a year upon opening – including more than one million overseas visitors – with visitor numbers rising to 12 million within a few years. Culture secretary Lisa Nandy
described Universal as “acutely aware of the cost-of-living pressures on families” and said: “We’re taking action on a number of fronts to make sure that this is accessible.” Universal Destinations &
Experiences chief executive and chairman Mark Woodbury joined Nandy and Reeves in Downing Street for the announcement. He revealed the park will be named Universal United Kingdom Resort and pledged it will feature “thrilling attractions”.
CAA to be given powers to enforce passenger rights
The Civil Aviation Authority will gain direct enforcement powers on passenger rights similar to those recently acquired by the Competition and Markets Authority. The Civil Aviation Bill
currently in the House of Lords includes measures granting the CAA powers to enforce consumer protection legislation, including
46 11 JUNE 2026
on accessibility, by amending the Digital Markets, Competition and Consumers Act to make the CAA a “direct enforcement authority”. Confirming the change last
week, aviation minister Keir Mather said: “We’re giving the CAA new enforcement powers, including the ability to issue fines [when] airlines and airports don’t meet passenger rights obligations such as providing an accessible service for disabled passengers.” An Aviation Accessibility
Task & Finish Group made 19 recommendations on improving accessibility last July. An Aviation
B
Accessibility Panel, comprising airports, airlines, manufacturers and service providers, was set up to work on the recommendations, and the CAA consulted on requiring airlines to publish data on the incidence of damage to wheelchairs. The Civil Aviation Bill also
includes provisions on airspace modernisation.
travelweekly.co.uk
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