"Lufthansa's decision to cancel flights stems from a sharp rise in operating costs, with jet fuel prices more than doubling, alongside ongoing labor disputes and supply pressures affecting the aviation sector."
"The cancellations will result in savings of around 40,000 tonnes of jet fuel by October, and represent roughly 1% of its total available seat kilometres."
"Michael O'Leary has warned that jet fuel supplies could come under pressure from May if the situation escalates, stressing that availability is now a greater concern than price alone."
"The head of the International Energy Agency has also cautioned that Europe may have as little as six weeks of jet fuel reserves in a worst-case scenario."
Lufthansa has canceled 20,000 short-haul flights from its summer schedule, primarily due to soaring jet fuel costs and the discontinuation of its CityLine operations. The airline is restructuring its European network, retiring 27 aircraft to address rising operating costs and ongoing labor disputes. The cancellations will save approximately 40,000 tonnes of jet fuel by October, representing about 1% of its total capacity. Despite these reductions, passengers will still have access to the airline's global network, although long-haul capacity will see slight reductions.
Read at London Business News | Londonlovesbusiness.com
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