Jet Fuel Prices Surge 58% Due To West Asia Conflict; Airlines Hike Fares Globally | Oil Crisis News

Описание: The ongoing West Asia conflict is severely impacting the global aviation industry, with jet fuel prices skyrocketing by nearly 58 percent in just one week, according to the International Air Transport Association. Weekly data shows jet fuel prices jumped from around 99 dollars a barrel at the end of February to over 157 dollars a barrel by 6th March, marking the sharpest spike in months. As fuel accounts for nearly 35 to 40 percent of an airline's operating costs, carriers worldwide are passing the burden to passengers. Air India has increased fuel surcharge by up to 50 dollars, with phased hikes starting 12th March covering domestic, SAARC, West Asia, South East Asia, Africa, Europe, North America and Australia routes. SpiceJet has warned it may impose fuel surcharges across routes. Globally, Air New Zealand increased fares by as much as 90 dollars, while Qantas raised international fares by about 5 percent. Airlines including Air Asia, Hong Kong Airlines and Cathay Pacific have announced fare hikes on select routes. More than 43,000 flights scheduled in the area have been cancelled or disrupted due to airspace closures.

#JetFuelPrices #AviationCrisis #WestAsiaWar #itwebvideos #AirlineFareHike #AirIndia #SpiceJet #FuelSurcharge #IATA #AviationIndustry #FlightCancellations #TravelCosts #AirlineIndustry #FuelPriceSurge #MiddleEastConflict #GlobalAviation #AirTravel #FlightFares #AviationNews #TravelNews #AirlineTickets #FuelCosts #InternationalFlights #DomesticFlights #TravelIndustry #AviationImpact



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