The soaring cost of jet fuel is forcing European airlines to cancel tens of thousands of flights, while energy authorities warned of a possible jet fuel shortage if supplies aren't replenished soon.

Six weeks — that’s how long Europe had before running out of jet fuel, according to an exclusive report by Paris-based correspondent John Leicester that

U.S. airlines were heading for a banner first quarter until the U.S. and Israel attacked Iran, sending jet fuel prices spiking and profits sinking.

Several European airlines have eliminated routes in the last week, and the most recent company to join the list is Lufthansa Group, the German firm that owns Lufthansa Airlines

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.

The NTSB said corrosion in compressors caused the engines to stop producing thrust.

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