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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 adjust their financial forecasts.

In recent weeks, jet fuel prices soared to $150-$200 per barrel from $85 to $90. This is a major financial blow to an industry that relies on fuel for a quarter or more of its operating costs.

The list below is arranged alphabetically.

AEGEAN AIRLINES

The Greek airline anticipates that the suspension of Middle East flights, as well as a spike in fuel costs, will have "a significant impact" on their first-quarter earnings.

AIRASIA X

Executives from the Malaysian airline said that the company has cut 10% of its flights in the group, and imposed a fuel surcharge of around 20%.

AIR FRANCE-KLM

The airline group announced that it would be increasing long-haul ticket prices to combat rising fuel costs. Cabin fares will increase by 50 euros ($57).

AIR INDIA

The Indian flag carrier announced that it would change its fuel surcharge system from a flat surcharge for domestic routes to a grid based on distance, because fuel surcharges applied to international routes didn't compensate for the steep rise in jet fuel costs.

AIR NEW ZEALAND

On April 7, the airline announced that it would cut flights in May and June, and raise fares. It was among the first airlines to announce a large increase in ticket prices after the conflict erupted. The airline also suspended its earnings forecast for the full year due to volatility in the fuel markets.

AKASA AIR

Akasa Airlines, based in India, announced that it would be introducing fuel surcharges ranging from 199 to 1,300 Indian Rupees ($2 - $14) for domestic and international flights.

AMERICAN AIRLINES

Fuel prices are expected to increase by $400 million in the first quarter, according to the U.S. airline.

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 declines because of 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.

CHINA EASTERN EXPRESS AIRLINES

Air China said that it would increase fuel surcharges on domestic flights starting April 5. Flights?of less than 800km will be charged a surcharge of 60 yuan, and flights above 800km will be charged a surcharge of 120 yuan.

EASYJET

EasyJet CEO Kentonjarvis says European consumers can expect to pay higher ticket prices at the end of the summer when fuel hedges end.

FRONTIER AÉRIENS

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

GREATER BAY Airlines

The Hong Kong based company announced that it will increase fuel surcharges for most routes on April 1, but keep charges the same on routes to mainland China and Japan.

The?carrier's surcharge on flights between Hong Kong, Philippines and other Asian countries will double.

HONG KONG Airlines

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

British Airways' owner IAG stated on March 10, that it does not intend to increase ticket price 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 into Europe, 2,300 rupees.

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

JETBLUE AERWAYS

As a result of "increasing operating costs", the low-cost airline based in America has increased fees for optional services, such as checked luggage. The company announced that baggage prices would increase by $4 or $9.

KOREAN AIR

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

PAKISTAN INTERNATIONAL FLIGHTS

Fuel surcharges are cited as the reason for raising domestic flight prices by $20, and international flight rates by 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 of hundred" flights.

SAS, which has already raised flight prices, stated that the surge in fuel prices would be a major blow to the aviation sector, even if they tried to absorb it.

SPRING AIRLINES

Budget Chinese airline announced that it will increase fuel surcharges for domestic flights starting April 5, details to follow.

THAI AIRWAYS

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

TURKISH AIRLINES LUFTHANSA

SunExpress, the joint venture between Turkish Airlines, Lufthansa and Lufthansa announced that it would begin imposing a temporary fuel charge of 10 euros per passenger on routes between Turkey, Europe and Africa, starting May 1. The fuel surcharge will apply to all bookings made after April 1, for departures after May 1.

UNITED AIRLINES

Scott Kirby, CEO of the U.S. Airline, said that the airline will cut unprofitable flights in the next two quarters to prepare for the oil price to remain 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 to customers, the carrier announced that it would also increase first and second checked baggage fees by $10. This applies to all travelers in North America, Mexico, Canada, and Latin America.

VIETJET

Vietnamese budget airline?said that it had reduced flight frequencies on certain routes due to possible fuel shortages.

VIETNAM Airline

Vietnam's Aviation Authority announced that the carrier will cancel 23 flights a week on domestic routes starting in April after it requested assistance from the government to remove an environment tax on jet fuel.

VIRGIN AUSTRALIA

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

WESTJET

Canadian Press reported that the airline would add a fuel surcharge of C$60 ($43.14 USD) to certain bookings, and also combine flights due to rising costs.

(source: Reuters)