The surge in oil prices has a direct impact on aviation fuel costs, raising concerns about rising air ticket prices around the world.
British Airways owner says upward pressure on fares
British Airways parent International Airlines Group (IAG) has warned that ticket prices could rise as airlines pass on increased fuel costs. The company said the situation in the Middle East was driving up operating expenses, although it continued to use fuel hedging to manage price fluctuations.However, IAG stressed that it was “not immune” to the wider market shock and confirmed that while supply remained stable, financial pressures were increasing, Sky News reported.
Government monitors fuel supplies, airlines brace for impact
The British government said it was closely monitoring aviation fuel stocks and was concerned there could be shortages if shipping disruptions in the Strait of Hormuz continued. Airlines have also been warned to prepare for fluctuations in fuel supply and prices.In response, aviation regulators have relaxed rules on airport slots. Airlines affected by fuel shortages will now be able to retain their flight slots without being penalized under the usual “use it or lose it” system.
Airlines split: normal operations vs rising fares
While budget airline Jet2 said its services and holiday packages will continue “as usual”, other airlines are adjusting fares to cope with rising costs. Reports show that airlines such as Virgin Atlantic have increased ticket prices across classes.Meanwhile, industry players including easyJet are expected to continue operations without immediate disruption, although cost pressures remain.EU Energy Commissioner Dan Jorgensen warned that if the crisis escalates further, travelers could face flight cancellations or significant increases in ticket prices.
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