Flight cancellations stacking up as jet fuel shortage continues
Canadian airlines have cancelled flights due to a global jet fuel shortage caused by the blockage of the Strait of Hormuz, with fewer than one per cent of Canadian flights cancelled as of Wednesday. Airlines are expected to continue cancelling flights and increasing fares to offset rising fuel costs.
Airlines worldwide are cutting flights due to a severe jet fuel shortage caused by the blockage of the Strait of Hormuz. Several Canadian airlines have cancelled flights in the last week, with fewer than one per cent of Canadian flights cancelled overall. The shortage is driven by the U.S. and Israel's strikes on Iran, which have blocked oil tankers from passing through the critical waterway, more than doubling jet fuel prices. Canada has a relatively stable supply due to its multiple refineries, but is still affected by global price spikes. Air Canada, WestJet, Porter Airlines, and Air Transat have announced plans to increase fares or add surcharges to offset rising fuel costs. Experts warn that once prices rise, they are unlikely to decrease even if the fuel shortage is resolved.
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