#jet-fuel-prices

#jet-fuel-prices

Lufthansa stated, "As a first immediately effective step, the 27 operational aircraft of Lufthansa CityLine will be permanently removed from the flight programme starting the day after tomorrow, in order to reduce further losses of the loss-making airline."

Airlines in Europe are bracing for fuel supply shocks caused by the war in the Middle East. The severity of the impacts on passengers will be determined in the coming days and weeks depending on whether a recently announced ceasefire between the United States and Iran holds.

Delta Air Lines will increase fees for first and second checked bags by $10 from Wednesday, according to a statement shared with Business Insider. For the third checked bag, fees will increase by $50. The changes apply to domestic and select short-haul international routes, and will not impact long-haul international flights or complimentary bag benefits.

United is raising first and second checked bag fees by $10 for customers traveling in the US, Mexico, and Canada and Latin America beginning with tickets purchased Friday, April 3.

Scandinavian Airlines (SAS) has announced the cancellation of 1,000 flights in April alone and many other major European airlines have announced cancellations or route cutbacks.

Since Iran virtually shut down the vital Strait of Hormuz this week - through which tanker ships carry 20% of the world's supply - crude oil prices have skyrocketed, and jet fuel prices in some markets have reportedly doubled. U.S. jet fuel prices jumped by 58% during the first week of the war, and United Airlines CEO Scott Kirby said the impact on airfares will "probably start quick."

Jet fuel alone accounts for somewhere between 25 and 35 percent of airlines' costs. The next stop is higher ticket prices. It's already happening, to some degree. Several airlines, including Air Asia and Hong Kong Airlines, have explicitly said they're adding to their usual fuel surcharges.