Airlines are canceling flights en masse due to fuel shortages and the war with Iran – Financial Times

Global airlines have cut approximately 2 million passenger seats in the past two weeks alone due to a critical rise in prices and a shortage of aviation fuel. 

This was reported by The Financial Times. The situation was triggered by the war between Iran and Israel, which led to a doubling of fuel prices and the closure of key airports in the Persian Gulf.

The total number of available seats in May fell to 130 million, with Lufthansa, Turkish Airlines, and Air China experiencing the largest reductions. Major Asian hubs, particularly in Singapore and Tokyo, are limiting fuel consumption by asking international carriers not to add new flights. Aviation analyst John Strickland noted that for the first time in his memory, the issue is one of a physical shortage of fuel, not just its cost.

The crisis has forced airlines such as Delta and British Airways to restructure their networks and use more fuel-efficient aircraft to minimize losses. While airlines are trying to avoid a shutdown of service between Europe and Asia, Russia continues to feel the consequences of its own isolation from the global aviation market. Companies are forecasting further declines in profits and rising ticket prices due to the destabilization of global energy supplies.

We also reported that Ryanair may begin canceling flights due to the threat of a fuel shortage.

The European Union is considering the possibility of introducing mandatory aviation fuel reserves for member states.