Asian and European airlines raise ticket prices amid Middle East conflict
Due to the conflict in the Middle East, which caused a surge in fuel prices and disrupted air traffic, Asian and European airlines have increased ticket prices and are adjusting flight routes and schedules.
Australian Qantas Airways, Scandinavian SAS, and Air New Zealand are among the carriers that have announced fare hikes. Several airlines also warn about potential fuel supply disruptions. Aviation fuel costs have surged sharply in Australia, the US, and Europe, with shortages emerging and no end to the crisis in sight. Thousands of flights have been canceled as airlines reroute flights, carry extra fuel, and conduct emergency refueling. US carriers, having long abandoned fuel hedging, are now adapting to prices around $120 per barrel.
Shares of British Airways’ parent company fell 6%, while EasyJet’s shares dropped 4%. Airlines are reevaluating growth plans amid these challenges.
