"Cathay Pacific has announced it will cancel hundreds of passenger flights in early summer, citing a sharp rise in operating costs driven by surging jet fuel prices."
"The ongoing volatile situation in the Middle East continues to negatively impact the price of jet fuel placing huge cost pressure on airlines around the world."
"United Airlines CEO Scott Kirby warned, it is 'entirely possible that parts of Asia are just going to run out of fuel.'"
Airlines are facing significant disruptions as soaring fuel costs and geopolitical instability in the Middle East lead to flight cancellations. Cathay Pacific plans to suspend around two percent of its flights from May 16 to June 30, affecting thousands of passengers. The airline cites rising operating costs linked to jet fuel prices, which have surged due to the conflict in the Gulf. Other carriers, including Air New Zealand and United Airlines, are also reducing operations, indicating a broader trend in the aviation industry amid rising costs and supply challenges.
Read at London Business News | Londonlovesbusiness.com
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