Jet Fuel Crisis Drives Air Travel Price Surge and Flight Cancellations Across Europe and U.S.

Global air travel faces mounting pressure as soaring jet fuel costs driven by the war in Iran force airlines to cut flights, raise fares and warn of worsening conditions for consumers in the coming weeks.

Airlines across Europe and beyond are slashing schedules in response to fuel prices that have roughly doubled since the start of the U.S.- and Israeli-led conflict, with Lufthansa announcing plans to cut 20,000 flights through the fall to mitigate expenses.

That’s massive

Rico Luman, senior economist for ING Research based in Amsterdam

KLM and Scandinavian Airlines have also announced flight reductions, though on a smaller scale than Lufthansa’s cuts, as energy experts warn that a prolonged closure of the Strait of Hormuz could deepen fuel shortages and sustain high prices.

When we remain stuck in this conflict and face high fuel prices like this, we will see more coming out of other airlines

Rico Luman, senior economist for ING Research based in Amsterdam

Any flying that we’re doing that’s on the margin, maybe not producing the yields we’d like, is likely going to be reconsidered

Ed Bastian, Chief Executive Officer of Delta Air Lines Inc.

Delta Air Lines cited an extra $2.5 billion in fuel costs for the current quarter as it warned that the situation would test the resilience of the global aviation industry.

This is going to be a test for the industry

Ed Bastian, Chief Executive Officer of Delta Air Lines Inc.

Global flight capacity for May has already been reduced by about three percentage points, with all but one of the 20 largest airlines cutting flights, according to data from analytics firm Cirium Ltd., which has revised its annual growth forecast downward and now warns of a possible decline of up to three percent if conditions persist.

It appears extremely likely that more reductions are ahead

Richard Evans, senior consultant at Cirium

Airline passengers should brace for more aggravation in the next few months as carriers around the world deepen cancellations and ground planes to cope with stratospheric increases in jet-fuel prices

Fortune

The jet-fuel surge is making global flight connections disappear

Economic Times

Travellers face more flight cancellations as airlines grapple with sky-high jet fuel costs

Economic Times

Carriers globally are reducing flights and parking planes. This situation impacts summer travel plans

Economic Times

Some airlines are already cutting routes. Experts predict further reductions if fuel prices remain high

Economic Times

This presents a significant challenge for the aviation industry

Economic Times

US naval blockade of the Strait of Hormuz cutting off Iranian oil shipments, there’s no immediate end in sight

Fortune

The disruptions roiling the aviation industry after the war in Iran started were initially limited to Middle Eastern airlines, their airports and airspace. They’ve since become contagious and threaten to upend the lucrative summer travel season globally

Fortune

European airlines might be preparing to make deeper cuts to their schedules as well

Rico Luman, senior economist for ING Research based in Amsterdam

This could be the start of more announcements

Rico Luman, senior economist for ING Research based in Amsterdam

Jet fuel prices have roughly doubled since the start of the U.S. And Israeli-led war

NPR

Airlines in Europe — which imports about a third of its jet fuel, largely from the Middle East — have been hit particularly hard

NPR

Lufthansa said this week it would cut 20,000 flights from its schedule through the fall to save on jet fuel

NPR

Other European carriers, including KLM and Scandinavian Airlines, have announced cuts to their schedules in response to rising fuel prices

NPR

Energy experts have warned that a prolonged closure of the Strait of Hormuz, the narrow waterway off Iran’s coast, would lead to higher jet fuel prices and possible shortages in Europe

NPR

Airlines are about to run out of jet fuel because of the Iran war

CNN

All the airlines cancelling flights and adding extra charges amid jet fuel crisis

The Independent

Jet Fuel Is Running Out in Europe. Why Your Summer Travel Plans Are at Risk.

Barron’s

What to know if your flight is canceled amid rising jet fuel costs

10tv.com

Air travel prices likely to get worse in coming weeks, Chevron CEO says

CBS News

Airlines are about to run out of jet fuel because of the Iran war

CNN