Global Airlines Increase Ticket Prices Due to Rising Conflict Costs

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Several major airlines have announced fare hikes due to rising jet fuel costs, which have surged following the US-Israel attack on Iran. Qantas Airways, SAS, and Air New Zealand have all increased airfare prices, citing the sudden spike in fuel costs.

Jet fuel prices, previously ranging from $85 to $90 per barrel, have jumped to between $150 and $200, according to Air New Zealand. The airline has suspended its financial outlook for 2026 due to uncertainty over the conflict.

The war has disrupted global shipping routes, leading to increased oil prices and affecting air travel. Airlines are taking measures to maintain stable operations, with SAS implementing a temporary price adjustment.

Some airlines have hedged fuel supplies at fixed prices, while others are exploring alternative strategies. Finnair warned that even fuel availability could be affected if the conflict prolongs.

Airspace disruptions in the Middle East have also led to flight delays and cancellations. Kuwait, a major jet fuel exporter, has faced output cuts due to the conflict.

In response to rising airfares, airlines are adjusting their schedules and routes. Air New Zealand is exploring redeploying capacity to Europe as passengers seek to avoid disruptions in the Middle East. Hong Kong’s Cathay Pacific Airways has added extra flights to London and Zurich in March.

Some European airlines have expressed no immediate need to adjust ticket prices, while others are increasing fuel surcharges. British Airways owner IAG said it was well-hedged for the immediate future and had no plans to change ticket prices.

Market fluctuations have seen airline shares rise or fall depending on the development of the conflict.

Source: Al Jazeera