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Fuel costs are increasing, so airlines are reducing their prices and cutting back on their outlook.

The U.S. and Israeli war against Iran, which has pushed up jet fuel prices, has shook the aviation industry around the world. Airlines have been forced to increase fares and revise their financial forecasts.

In recent weeks, jet fuel prices have increased from $85-$90 per barrel to $150-$200 per barrel. This is a major financial blow to an industry that relies on fuel for up to 25% of its operating costs.

Here is an alphabetical list of the ways airlines are responding to this issue:

AEGEAN AIRLINES

The Greek airline anticipates that the suspension of Middle East flights, as well as the spike in fuel costs, will have a "notable impact" on its results for the first quarter.

AIR FRANCE-KLM

The airline group announced that it would increase the price of long-haul tickets to offset rising fuel costs. Cabin fares will rise by 57?euros (50?euros) per round trip.

AIR NEW ZEALAND

On March 10, the airline was among the first to announce a large increase in ticket prices. The airline also halted its earnings projections for the full year due to volatile fuel markets.

AKASA AIR

Akasa Airlines, based in India, announced that it would be imposing a fuel surcharge on both domestic and international flights ranging from 199 to 1,300 Indian Rupees ($2 - $14).

AMERICAN AIRLINES

Fuel prices are on the rise, and American Airlines expects to incur $400 million more in expenses for the first quarter.

CATHAY PACIFIC

Hong Kong Airlines announced that it will increase its fuel surcharges by 34% on all routes starting April 1, and to review them every 2 weeks. The CEO of the carrier said that it would maintain its flight capacity despite high fuel costs, but warned that its 10% growth plan for passenger capacity could be altered if demand drops due to high fuel prices.

CEBU AIR

The Philippines-based carrier said that the sharp increase in fuel prices is a major concern. It will continue to review pricing and network strategies and try to minimize the impact.

EASYJET

EasyJet CEO Kentonjarvis warned that European consumers can expect to pay higher prices for tickets towards the end of the summer when fuel hedges will end.

FRONTIER AÉRIENS

Fuel prices have increased dramatically since the airline's forecast.

HONG KONG Airlines

The airline announced that it would increase fuel surcharges up to 35% starting March 12, with the largest increases on flights between Hong Kong, the Maldives and Bangladesh, and Nepal. Charges would go from HK$284 to HK$384 (49 dollars).

British Airways' owner IAG announced on March 10 that it does not intend to raise ticket prices immediately as it has hedged a large amount of fuel in the short to medium term.

INDIGO

India's largest airline announced that it will introduce fuel charges for domestic and international flights starting March 14. The charge for flights into the Middle East is 900 rupees and for flights to Europe, 2,300 rupees.

Sources say that the company also lobbys for the Indian government to reduce fuel taxes.

JETBLUE AERWAYS

Low cost airline based in the United States has announced that it will increase fees for optional services, such as checked luggage, due to "rising operating expenses." The company announced that baggage prices would increase by $4 or $9.

KOREAN AIR

A source familiar with the situation said that South Korea's flag carrier would enter emergency mode in April as rising oil costs weigh on its costs. The airline will implement phased responses based on the oil price level and increase company-wide efficiency to offset rising fuel costs.

PAKISTAN INTERNATIONAL FLIGHTS

Fuel surcharges are cited as the reason for raising domestic fares up to $20, and international fares up to $100.

Scandinavian Airlines announced that it would cancel 1000 flights in April due to high fuel and oil prices. In March, the airline said that it had cancelled "a couple hundred" flights.

SAS, which has already raised flight prices, said that even if they tried to absorb rising fuel costs, it would still be a major blow to the aviation sector.

SPRING AIRLINES

Budget Chinese airline announced that it will increase fuel surcharges for domestic flights starting April 5. Details to be announced in due course.

THAI AIRWAYS

The Thailand-based airline said that it would increase fares between 10% and 15% in order to combat rising fuel prices.

LUFTHANSA, TURKISH AIRLINES

SunExpress, the joint venture between Turkish Airlines, Lufthansa and Lufthansa announced that it will impose a temporary 10 euro fuel surcharge per passenger on routes between Turkey, Europe and Middle East from May 1. The fuel surcharge will be applied to all bookings made after April 1 and for departures after May 1.

UNITED AIRLINES

Scott Kirby, CEO of the U.S. carrier, said that the airline will cut unprofitable flights in the next two quarters to prepare for the oil price remaining above $100 by the end 2027.

Andrew Nocella, United's Chief Commercial Officer, said that the company was able to increase fares in response to a rapid rise in jet fuel and oil prices.

In an email, the carrier said that it would also be increasing the first and second checked bags fees by $10 to customers travelling in North America, Mexico, Canada, and Latin America.

VIETJET

A potential fuel shortage has led to the Vietnamese budget airline reducing flight frequencies on certain routes.

VIETNAM Airline

Vietnam's aviation authority announced that the carrier would cancel 23 flights a week on domestic routes starting in April after it requested government assistance for the removal of an environmental tax.

VIRGIN AUSTRALIA

Virgin Australia announced that it would be adjusting its fares in order to reflect the rising costs across the aviation sector, which were being exacerbated significantly by the Middle East situation.

GREATER BAY Airlines

Greater Bay Airlines, based in Hong Kong, said that it would increase fuel surcharges for most routes starting April 1, due to increased fuel prices related to the Iran War. However, charges on routes to mainland China and Japan will remain unchanged.

The carrier has announced that the surcharge on flights between Hong Kong, Philippines and other destinations will be more than doubled.

(source: Reuters)