Attention Flyers: These Airlines Are Cancelling Flights, Hiking Ticket Prices As Iran War Squeezes Jet Fuel Supply

(MENAFN- Live Mint) Flight operations have been facing frequent disruption since the start of the war in West Asia in late February. As the prices of jet fuels nearly double by April with the Strait of Hormuz – critical for transportation of oil – facing a blockade, the situation is set to get worse in the coming months.

Travellers to and from Europe must be prepared to pay higher fares and face sporadic flight cancellations ahead of the peak summer season.

Flight numbers cut down

The surge in jet fuel prices coupled with imminent fuel shortage has led at least 20 carriers spanning key regions to cut down flight operations scheduled in May, Associated Press reported citing aviation analytics firm Cirium. On Tuesday, German airline Lufthansa said it would cut 20,000 short-haul flights over the next six months. Other airlines that plan to operate fewer flights include:

Scandinavian Airlines Delta Air Lines United Airlines American Airlines Air Canada Emirates Qatar Airways Air China British Airways KLM Asiana Airlines SAS

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The Lufthansa Group said that it will either refund affected passengers or book them on alternative flights with one of its other airlines – SWISS, Austrian Airlines, Brussels Airlines, and ITA Airways.

Ticket prices increased

While several operators have cut back on the number of flights operated or discontinued flights on short-haul, unprofitable routes, a few have said that they will start charging more per passenger or will put up charges for luggage. As reported by BBC, these include:

Air France-KLM Indigo Pakistan International Airlines Thai Airways Turkish Airlines-Sun Express Virgin Atlantic

It is important to note here that an airline or tour operator cannot increase ticket prices post-sale unless there is a specific caveat written in their terms and conditions. Airlines are likely to increase future prices, including for baggage or other extras.

Also Read | India scales back jet fuel price hike; commercial LPG rises ₹200

In fact, low-cost domestic Spanish airline Volotea has come under fire for saying it will add a surcharge to tickets it has already sold. The move is being challenged by local consumer rights groups, BBC reported.

Why airlines are hiking prices

Europe imports roughly 50% of its oil from the Gulf nations; and the war in West Asia has interrupted both production and transportation of fuel. The squeeze in supply has nearly doubled the global price of jet fuel from about $99 per barrel at the end of February to $209 a barrel at the beginning of April.

Airlines are particularly vulnerable to fuel price shocks as jet fuel is one of their largest operating expenses. And though flight operators have not physically run short of jet fuel yet, there have been warnings of potential shortages if the conflict continues.

On 16 April, the head of the International Energy Agency (IEA) estimated that Europe had about 6 weeks' worth of jet fuel left and warned that airlines would begin to cut routes without more.

The European Union's EU Energy Commissioner Dan Jørgensen also warned that the energy crisis triggered by the war in West Asia was“not short-term” and asserted that it was costing Europe around 500 million euros ($600 million) each day, Associated Press reported.

Also Read | Jet fuel is running out in Europe. Why your summer travel plans are at risk.

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