Iran Conflict Escalates Jet Fuel Prices, Impacting European Airlines
The ongoing conflict in Iran has led to a significant increase in jet fuel prices, affecting European airlines as they prepare for the summer travel season. Since the conflict began on February 28, jet fuel prices have risen by nearly 84%, posing a challenge for airlines that rely on hedges to manage costs. While the International Air Transport Association's head, Willie Walsh, notes that the situation is not as severe as the COVID-19 pandemic, the rising costs are causing airlines to adjust their operations. Some airlines have raised prices and reduced flight capacity in response to the crisis. The conflict has also led to a decrease in flights operated by Middle Eastern carriers, with a 50% drop year-on-year in March. 
