Jet Fuel Shortages Threaten Summer Travel Plans and Raise Airfares
Jet fuel shortages could make summer travel 'total mess', push fares higher
Business Standard
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This summer, travelers face rising airfares and potential flight cancellations due to jet fuel shortages, particularly in Europe. Fuel prices have surged over 70% since the onset of the war in Iran, prompting airlines to cut capacity and increase fares, making affordable travel increasingly uncertain.
- 01Jet fuel prices have increased by over 70% since February due to the war in Iran.
- 02European airlines like Lufthansa and KLM are cutting flights to manage fuel shortages.
- 03US airfares have risen significantly, with international trips averaging $1,064, up from $776 in late February.
- 04Airlines are expected to continue raising prices and cancelling flights as fuel costs remain high.
- 05Travel experts advise booking flights early due to uncertainty surrounding fuel availability and pricing.
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This summer is poised to be challenging for travelers, particularly those flying to Europe, as jet fuel shortages loom. Fuel prices have surged over 70% since the war in Iran began, leading to significant increases in airfares. For instance, as of April 13, the average cost of an international flight reached $1,064, compared to $776 on February 23. Major European airlines, including Lufthansa and KLM, are already announcing flight reductions, with Lufthansa set to cut 20,000 flights over the next six months. In the US, airlines have raised fares multiple times since the conflict began and are scaling back routes to manage costs. Experts warn that the situation could worsen, making travel more expensive and less flexible. Travelers are encouraged to book flights soon, as the duration of the fuel shortage remains uncertain.
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Travelers may face higher costs and fewer flight options this summer, impacting vacation plans and budgets.
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