Air France-KLM said that it expects to see its fuel bill increase by 2.4 billion US dollars in this year due to the disruption of the energy markets caused by the Iran War. It also downgraded the outlook for its capacity. Jet fuel accounts for more than one-third of airline costs. EasyJet, TUI and other European airlines have revised their forecasts since the Middle Eastern conflict began at the end February. Jet fuel hedges that they have taken out to protect themselves from price increases are no longer able to keep them safe, given the size of the spikes. CEO...

Rolls-Royce, a British 'engineering' company, said that it would abide by its guidance to increase profits at least 16% in this year and be able to mitigate the disruptions caused by the Middle East war. Rolls-Royce is the engine manufacturer for the Airbus A350 widebody jets and Boeing 787 widebody planes. This means that its airline customers were affected by the disruptions to air travel in the first weeks of the Iran War, which began in late February. The air travel industry has recovered somewhat since the conflict, but airlines that pay 'Rolls' for the hours of flight they use...

Air France-KLM reported a smaller loss in the first quarter than expected on Thursday, but it downgraded the outlook for its capacity on the basis that geopolitical uncertainties are linked to the U.S./Israeli war against Iran and the rising costs of jet fuel. EasyJet, TUI and other European airlines have revised their forecasts due to the shrinking jet fuel hedges. The airlines expect to feel the effects of the Strait of Hormuz closure more intensely in the next few months. Ben Smith, Air France-KLM's Chief Executive said that fuel price increases have not yet been reflected in today's results. However,...

China's top three state-owned carriers returned to profitability in the first quarter. This was due to the robust demand for travel during the Lunar New Year and the recovery of global travel. However, the outlook has been overshadowed by higher fuel prices because of the war in Iran. China Southern Airlines, based in Guangzhou, reported a net loss of 747 millions yuan for the same period of last year. Air China, the country's flagship carrier, posted a net profit of 1.71 billion Yuan compared to a loss last year of 2.04 billion Yuan. Shanghai-headquartered China Eastern Airlines reported a net...

Spirit Airlines has said that no bankruptcy court hearings will be held on Thursday, as talks with lenders continue over terms of a possible $500 million U.S. Government?rescue. In a court document filed on Wednesday, the airline said that talks are continuing and that lenders haven't filed a notice in New York Federal Court that would trigger a liquidation within seven business days. Last week, President Donald Trump stated that his administration was interested in buying the struggling airline for the "right price." The Florida budget carrier is running out of time. Marshall Huebner, a Spirit lawyer, said that Spirit...

Middle Eastern carriers increased capacity after the U.S. - Israel war against Iran caused severe disruption. Airlines outside the Gulf are continuing to reroute routes between Europe and Asia, away from major hubs in the region. The latest flight information is listed below alphabetically: AEGEAN AIRLINES The largest airline in Greece will resume its flights to Tel Aviv on April 28 from?Athens, from Heraklion and Rhodes on April 30, and from Larnaca and Rhodes on May 21. Thessaloniki-Tel Aviv flights are cancelled through June 26. Flights to Riyadh & Amman will resume on May 21. The flights to Beirut and...

AerCap's head, who is the world's largest leasing company, stated on Wednesday that while higher fuel prices are not having a significant impact on airlines, they could benefit from a sustained spike. Aengus Kelley, AerCap's chief executive, said that demand for AerCap aircraft is strong and that airlines have not changed their behavior because of the Middle East conflict. In the first quarter, more than half of AerCap's 202 leasing deals were signed after the Middle East conflict began in March. Kelly stated that if jet-fuel prices remain at the current levels for a period of three to six month,...

Matteo Salvini, the Italian Transport Minister, said on Wednesday that Italy's jet-fuel reserves are enough to cover airport operations until at least the end of May. He also urged the European Union (EU) to relax its budget rules so governments can respond to the energy shortage. The 'Iran War' has disrupted Europe’s imports from the Middle East of jet fuel, raising fears about a shortage before the peak summer travel season. Since the U.S. and Israel's war against Iran began on February 28, the price of jet fuel is up 84%, but carriers are largely surviving the crisis. Salvini stated...

Jet2, a British 'travel company,' warned Wednesday that the 'uncertainty about the war is limiting their outlook for seat occupancy during the peak summer travel season. Bookings have slowed down from February levels. Summer bookings are up 7.7% compared to a year ago, according to the company. This is less than the 8% increase in bookings reported in February. Due to the Middle East conflict, the?aviation industry and leisure travel has been under pressure. Jet fuel shortages have resulted from the Strait of Hormuz blockade and cancellations of customers are on the rise. Jet2, UK's third largest?airline said that customers...

As fuel costs rise, the demand for overseas travel is expected to decrease. Travel agents and industry experts expect that most holidaymakers will stay in China. This trend has been seen during recent major holidays, as consumers choose cheaper local destinations due to an economic slowdown. The rising cost of jet fuel following the war with Iran has made travel abroad even more expensive. Price increases have led to a wave cancellations of flights between China and Southeast Asia. Media reports indicate that multiple carriers, including Air China, China Eastern Airlines, Spring Airlines, and Malaysia's AirAsia, have reduced or suspended...

Bloomberg 'News'reported that Spirit?Airlines has?hit a halt in their discussions regarding a possible $500 mln U.S. Government rescue financing, citing?sources. The report stated that a group of lenders including hedge fund Citadel is fighting back against proposed terms which could?significantly erode the value of their claims? and limit recovery. Could not immediately verify the report. Citadel and Spirit did not immediately respond to requests for comments. Spirit's rescue funding has hit a roadblock, just hours after it was reported that the airline had secured the support of two of three of its major creditor groups to secure a bailout. Last...

The top American companies, from GM and Coca-Cola to Coca-Cola, are trying to reassure their investors that they will be able to weather the financial fallout of the Iran War despite the fact that fuel prices and packaging costs have risen. Since the beginning of the conflict, oil prices have increased dramatically. This has pushed up the cost of inputs in industries that are already under pressure from U.S. Tariffs. This increase forces companies to consider price increases at a time consumers are already feeling the strain. Reviewing company statements from the'start of war' revealed that 24 companies had withdrawn...