"The war has resulted in the closure of the Strait of Hormuz, a passage through which typically around 20 per cent of the world's oil and natural gas flows. This closure has drastically impacted fuel availability and prices."
"Jet fuel prices have spiked, pushing up operating costs, with European prices doubling and Asian prices up almost 80% since US and Israeli strikes on Iran began in late February."
"Airlines to confirm flight cancellations due to fuel costs include Air New Zealand, which cut 1,100 flights through to early May, and Scandinavian group SAS, which is cancelling 1,000 next month."
The last shipment of jet fuel from the Middle East to the UK is imminent, highlighting the effects of the Iran war on the aviation industry. The closure of the Strait of Hormuz has led to a significant increase in fuel prices, with European prices doubling. Airlines are facing operational challenges, resulting in numerous flight cancellations. Major airlines like Air New Zealand and SAS have announced significant cuts to their flight schedules due to rising fuel costs, affecting mainly domestic routes.
Read at CN Traveller
Unable to calculate read time
Collection
[
|
...
]