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.
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