Iran warfare sends flight costs hovering – full checklist of airways ramping up fares
Need to know
Airlines around the world are ramping up ticket prices and emergency fuel surcharges as the war between Iran and the USA-Israel sends oil and jet fuel costs soaring, leaving Brits facing costly Easter getaways
Oil and Chemical tanker, Bantry Bay (Image: Getty Images)
Everything you need to know
- Brits hoping for a sunny Easter getaway are facing heartbreak as airlines worldwide hike ticket prices due to soaring fuel costs triggered by the Iran-USA-Israel conflict.
- The escalating Middle East war has effectively shut down the Strait of Hormuz, a key oil route handling a fifth of the world’s supply. Iran has threatened to attack any ship entering the strait, with 18 vessel attacks already confirmed by UK Maritime Trade Operations.
- Crude oil prices have jumped by a third, topping $100 a barrel, while jet fuel costs have nearly doubled from $830 to over $1,500 per ton in just weeks. European airlines get about half their fuel from the Gulf, making price hikes inevitable.
- Dr Amrita Sen from Energy Aspects warned MPs: “Everyone is talking about crude oil but there are prices for jet fuel that have gone above $300 [a barrel] – it is crazy what is going on.”
- Airlines are scrambling to introduce emergency fuel surcharges, with Cathay Pacific doubling costs on most routes and Air France adding €50 to return flights. Major carriers including Qantas, United Airlines, and Air New Zealand have all announced significant price increases.
- While travellers with existing bookings won’t face extra charges, anyone buying new tickets is in for a shock. Dr Sen warned: “We should absolutely be expecting higher air fares for at least the next couple of months.”
- Major European budget airlines like Ryanair, easyJet, Jet2, and Wizz have yet to announce whether they’ll raise fares.
READ THE FULL STORY: Airlines ramp up fares as Iran war sends costs of holidays soaring – see full list
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