Iata summit in Brazil hears top executives say although jet fuel shortages are unlikely industry-wide profits will halve BA boss: ‘Costly aviation taxes and rail tickets stunting UK tourism growth’Airlines will have to spend an extra $100bn on jet fuel this year, with fares “inevitably” rising to cover the bill after the war with Iran choked off oil supplies.With jet fuel prices expected to be 70% higher across 2026, airlines body Iata said that collective industry profits worldwide would halve to $23bn. Some carriers would struggle to survive the fuel price shock caused by the closure of strait of Hormuz in March, it said. Continue reading...
Source: https://www.theguardian.com/business/2026/jun/07/air-fare-rises-inevitable-as-airlines-face-extra-100bn-jet-fuel-bill-this-year