All the airlines cancelling flights and adding extra charges amid jet fuel crisis
The global aviation industry is facing significant challenges due to a surge in jet fuel prices caused by the escalating US-Israeli conflict with Iran. Airlines are responding by cancelling flights, raising fares, and revising their financial outlooks.
The global aviation industry is facing turbulence due to a dramatic surge in jet fuel prices driven by the US-Israeli conflict with Iran. Jet fuel costs have rocketed from $85 to $90 per barrel to $150 to $200 per barrel, representing a substantial financial hit for carriers. Lufthansa's airline group has cancelled 20,000 flights to protect itself from soaring oil costs. The European Commission has proposed measures to address the impact on the region's energy markets, including optimising jet fuel distribution between EU countries. Airlines worldwide are responding by cancelling flights, raising fares, and revising their financial outlooks. Several airlines, including Aegean Airlines, AirAsia X, Air France-KLM, Air Canada, and Air India, have announced changes to their operations and pricing due to the crisis.
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