"According to the Argus U.S. Jet Fuel Index, the cost of jet fuel surged from $2.17 to $4.57 per gallon by March 27, leading to significant operational adjustments by airlines."
"United Airlines CEO Scott Kirby confirmed that the airline will cut about 5% of its planned flights and suspend certain international routes, including those to Israel and Dubai."
"Executives at Lufthansa and Air France-KLM have indicated that long-haul ticket prices will rise, while Cathay Pacific and other Asian airlines are raising fuel surcharges."
"This situation highlights the global ripple effect of the conflict, as airlines struggle to absorb unprecedented fuel price spikes while maintaining operations and protecting profitability."
Jet fuel prices have more than doubled recently, prompting airlines worldwide to adjust their schedules. The Argus U.S. Jet Fuel Index reported a surge from $2.17 to $4.57 per gallon. U.S. carriers like United Airlines are cutting flights and suspending international routes. If prices remain high, annual costs could increase by $11 billion for airlines. European and Asian carriers are also raising fares and surcharges, with SAS planning to cancel 1,000 flights. The situation reflects the broader impact of geopolitical conflicts on the airline industry.
Read at London Business News | Londonlovesbusiness.com
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