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Is the Iran War just an energy shock or a turning-point? Russell
Loss of?barrels, and increased prices are already signs that the Iran war has disrupted global crude oil and gas markets. With a U.S. peace deal with Iran expected to reopen Strait of Hormuz in the near future, it's time to assess whether this was a 'watershed moment or just another blip. Consider two precedents. Volkswagen's "Dieselgate", a scandal in 2015 over rigged emission tests, seemed innocent at first. But it signaled the end of diesel cars for passenger vehicles and the rise?of electric vehicle (EVs). The 2022 Russian invasion of Ukraine sparked a dramatic rise in energy prices. However, the market was able to absorb the shock and reroute the flows, so the impact was short-lived. The market has certainly worked its magic to close the Strait of Hormuz effectively since the U.S. and Israeli attacks against Iran began on 28 February. Iran, Iraq, Kuwait and the United Arab Emirates have all lost at least 1 billion barrels worth of crude oil. The narrow waterway that separates Iran and Oman also traps up to 20% of the global supply of liquefied gas. The combination of strategic and business inventory releases, as well as a dramatic drop in crude imports from China, the largest crude importer in the world, have helped to keep Brent crude futures below $100 per barrel during the current crisis. One could argue that traders were influenced by the optimism surrounding a possible agreement to reopen Strait, believing President Donald Trump’s social media posts suggesting that an accord was imminent. The long-awaited agreement began to take shape on Sunday, when the U.S. announced that it had reached an agreement with Iran on a framework to allow vessels to resume their transit. Trump announced on Monday that oil tankers had begun to leave the Strait. The full details of this agreement are not yet public, but the prospect that tankers will soon be able to enter and exit the waterway with no hindrances raises the question of what comes next. First, the energy markets would receive a temporary sugar rush of relief as trapped tankers in the Gulf leave and deliver their cargoes. The next step would be to try to restore the supply chain and flow of goods to their pre-war level, followed by a longer process to rebuild depleted stocks. The price of crude oil and LNG could stay high for longer if the barrels lost are replaced. However, this will depend on the speed at which Middle East producers can ramp up production and exports and if the OPEC+ 'group is able to produce the higher volumes that it has agreed to. CHANGES IN BEHAVIOUR? The longer-term effects are the more important question. The views of consumers and governments will be crucial, particularly in Asia, which is the fastest growing region, where energy consumption is high. Customers who can change their minds are more likely to switch to hybrid or electric vehicles in order to protect themselves from future price spikes for diesel and gasoline. Australia, which is the largest diesel importer in the world and relies on foreign refineries to meet over 80% its fuel needs, provides an early glimpse of what this could look like. In May, Australian EV sales reached a new record, with a 20% market share. When combined with hybrids, this share increased to 46%. In China, which is the world's largest EV producer, EVs and hybrids will account for more than half of all sales by 2025. This figure rose to 60% this May. The government's?policies will also shift towards promoting renewables and electricity over fossil fuels. Dieselgate has seen the motor fuel lose popularity, particularly in Europe where its share in passenger car sales fell from 52% in 2015, to less than 10% in 2025. Asian countries like Vietnam have already put in place policies that encourage electric scooters and EVs. This momentum will likely grow throughout the region. In Asia, LNG is also a threat as countries weigh up the security risks associated with an imported fossil fuel versus buying solar panels,?wind turbines, and?battery-storage from China or developing local industries with Chinese backing. Coal is one fossil fuel that could emerge as the long-term victor of this crisis. China, India, and Indonesia are all countries with large reserves of domestic fuel. They will continue to use it because they can afford it and have a reliable supply, even though this makes it more difficult to reduce carbon emissions. Importing coal is also an option for some countries, as the main exporters, such as Indonesia, Australia, and South Africa, are reliable suppliers, and shipments won't be at risk due to chokepoints, like the Strait of Hormuz. But a long-term move away from crude oil or LNG is not guaranteed, since the producers and exporters are not likely to accept their demise. It may not be difficult to get people to forget about the previous crisis if prices are kept low and drop quickly. Brent fell 4% from $83 to $83 immediately after the announcement of the deal, suggesting that this process is already underway. It's possible for governments and consumers to forgive and forget about the costs and disruption of the Iran War, just as they did in the past after price spikes caused by conflict. The views expressed are those of the columnist, who is an author for. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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China's Xi supports Myanmar's President as the two leaders meet in Beijing
Chinese President Xi Jinping on Tuesday endorsed the ?political leadership of Myanmar's military chief-turned-president Min Aung Hlaing as the ?two met in Beijing to ?map out the future development ?of ?bilateral ties. "I'm willing to continue strengthening (our countries' bilateral ties), to carry forward the brotherly relationship between our two nations, and to deepen comprehensive strategic collaboration," Xi said to his Myanmar counterpart according to Chinese state television CCTV. Min Aung Hlaing will be in China until Friday for a 5-day state visit. This is his first trip since he formalised his power after the controversial elections that took place in December and Janaury in war-torn Myanmar. Xi spoke about the importance of their bilateral ties in contributing to regional peace and growth. Beijing hosted a state-welcome ceremony at the Great Hall of the People, before the leaders met in a closed door meeting that lasted a little more than an hour. Xinhua, the Chinese state-run news agency, reported that both men witnessed the signing documents of cooperation. The 18 memorandums of cooperation covered areas such as cross-border transportation within the Greater Mekong Subregion, free trade and assistance for natural disasters. China is one of Myanmar's most important foreign partners. The military seized power in February 2021 from Aung San Suu Kyi, the elected leader of Myanmar. This triggered an armed revolt. China's Foreign Ministry?has stated that it supports Myanmar to unify domestic political forces and restore?stability. Beijing has also invested in Myanmar projects under the Belt and Road Initiative. This includes an oil and natural gas pipeline that crosses the country, and planned infrastructure such as a deep sea port. Min?Aung Hlaing has met Xi twice in less than a calendar year. He first met him at the Shanghai Cooperation Organisation Summit in Tianjin in August last year. Min Aung Hlaing chose India as his first foreign trip after he became president. However, analysts believe that his visits to China indicate a stronger relationship with Beijing.
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China embraces Myanmar's president as former junta chief seeks legitimacy
The state visit by Myanmar President Min Aung Hlaing to China will give him a diplomatic boost, as he seeks to consolidate power in the war torn country after a widely condemned presidential election held at the beginning of the year. Min Aung Hlaing's five-day state visit, which will include a meeting with Chinese President Xi Jinping at the highest diplomatic level, comes after he visited India last month and held discussions with Prime Minister Narendra Modi. Richard Horsey is the Crisis Group's senior Myanmar advisor. "India did not give him the full honors of a state visit on his recent trip, but he was given a warm welcome." Analysts say that while the optics of Min?Aung Hlaing's visit are positive, Beijing will likely remain focused on its own strategic goals, such as strengthening borders and developing resources like rare earths. China is Myanmar's largest trading partner and investor. It has anchored its influence with major Belt and Road Projects, such as a cross country oil and gas pipeline and deep sea port. Beijing is also a key supplier and diplomatic partner of the Myanmar military. David Mathieson is a Thailand-based analyst who closely follows Myanmar. "China also perceives that the West is retreating from Myanmar, and Beijing will assert its new suzerainty in the country." CHINESE INTERESTS Since Min Aung Hlaing overthrew the elected government of Aung San Suu Kyi, in February 2021, Myanmar has been engulfed in a civil war. The protests against the coup turned into a national armed uprising that pitted the military against newly formed pro-democracy groups and ethnic armies. More than 93,000 people have been killed and more than 3.7 millions displaced by the fighting in this impoverished Southeast Asian country. Myanmar's military orchestrated a general elections last December and January that excluded major opposition, and resulted in an overwhelming victory for a party backed by the army, which paved the way for the election of Min?Aung Hlaing as president. According to the state media, the delegation that accompanied Min Aung Hlaing in China included the chief ministers from Myanmar's Kachin State and Shan State, which both border China. They also included the country's minister of industry. Kachin State has one of the largest heavy rare earth mine belts in the world, and Shan State shares many trading routes with China. Aung Kyaw Soe said that the ministers' attendance suggests that discussions will likely focus on border trade, and the Myitsone Dam project, a $3.6 billion Chinese-led project, in Kachin State, which was shelved by 2011. Aung Kyaw Soe stated that "in 2025, the military second-in command, General Soe Win personally started bringing up the topic of restarting Myitsone. I believe they will discuss it during 'Min Aung Hlaings' current trip to China," Aung Kyaw Soe. Min Aung Hlaing’s visit will be impacted by the arrest of Min Zin in China, a prominent American scholar from Myanmar. He was arrested on suspicion of spying. Horsey, from the Crisis Group, said that Min Aung Hlaing’s visit would bring more attention to Min Zin’s arrest because he was one of the leading Myanmar scholars who worked towards improving understanding between the countries. (Reporting and Editing by DevjyotGhoshal and Kate Mayberry).
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The largest tanker operator told FT that it will take a few weeks to resume transit through the Strait of Hormuz.
The chief exec of Japan's Mitsui O.S.K. said that shipowners won't resume transiting the Strait of Hormuz until they feel "confident" about the U.S.Iran deal. Lines said in an interview with the Financial Times published on Tuesday. The Iran War that began with U.S. and Israeli strikes on February 28, along with products like?aluminium, urea and other liquefied gas and oil supplies around the world has largely stopped shipping. Mitsui O.S.K. is one of Japan’s three largest shipping companies with a fleet of over 900 vessels. This includes bulk carriers, tanks and ferries. "What must?come into place is not a simple agreement, but one that can be translated to the actual situations in the Strait of Hormuz so shipping lines feel comfortable going through," Mitsui O.S.K. 's Jotaro Tamura told FT just before U.S. President Donald Trump announced a?"deal" to end the Iran war. Tamura said that based on the experience of the past couple of months it is reasonable to assume it will take at least two weeks, if not more. Mitsui O.S.K. A request for comment was not responded to immediately. According to the FT, Tamura's opinion has not changed since the agreement between Washington & Tehran was finalised. In a post on Truth Social, President Donald Trump?said that ships laden with?oil have started to leave the strait. "They are going along the Southern 'Highway', which is completely safe, secure and pristine".
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French and Benelux stocks: Factors to watch
Here are some company news stories and updates from France and Benelux that could have an effect on individual stocks or the markets in these regions. Aeroports de Paris, a French airport operator, reported that May group traffic rose by 1.2% to 32.8 million passengers. Traffic at the Paris Aeroport was up 1.0%, at 9.5 millions passengers. This is due to easing Middle East instabilities. EDENRED - French payment solutions provider Edenred has acquired Mobility House Solutions to strengthen its position in Germany, Austria and the rest of Europe. The transaction is expected to close in the third quarter 2026. France/G7: European Leaders will warn U.S. Donald Trump on Tuesday at the G7 summit that a superficial interim Iran agreement risks entrenching Tehran’s nuclear and missile programmes. They will also press him to reconsider his Ukraine strategy. Donald Trump, U.S. president on Monday, said that an agreement had been reached with Iran and that it would be made public after the formal signing of the deal on Friday. He also stated that the Strait of Hormuz will be open to all traffic. Orange, the French telecommunications firm, priced EUR850m in undated hybrid 7-year notes with a coupon of 4.25% and launched a tender to purchase EUR1.25bn of existing 12-year notes without a call and EUR500mn existing 7.5-year notes. Thales, a French technology and defense company, announced that Availity had selected Thales OneWelcome as the platform to handle billions of transactions across Availity's healthcare network. French tubular solutions company Vallourec stated that it expected geothermal to become the biggest contributor to its new energys business with an addressable?market of around 400,000 tonne?by 2030. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 ?index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European ?pct gainers....................... Top 25 European pct ?losers........................ Main stock markets: Dow Jones ............... Wall Street Report ..... Nikkei 225............. Tokyo report............ London report ........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report .....
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China embraces Myanmar's president as former junta chief seeks legitimacy
The state visit by Myanmar President Min Aung Hlaing to China will give him a diplomatic boost as he attempts to consolidate power in the war torn country after a widely condemned election at the beginning of the year. Min Aung Hlaing's five-day state visit to China, where he will meet Chinese president Xi Jinping at the highest diplomatic level, comes after a recent official trip to India, during which he met Prime Minister Narendra Modi. Richard Horsey is the Crisis Group's senior Myanmar advisor. He said: "An official visit by Xi Jinping to Myanmar is a clear signal that China will deal with Myanmar as a partner." "India gave him warm embrace during his recent visit but not full honours for an official state-visit." Analysts say that while the optics of Min Aung Hlaing's victory are positive, Beijing will likely continue to focus on its own strategic goals, such as strengthening borders and developing resources like rare earths. China is Myanmar's largest trading partner and biggest investor. It anchors its influence with major Belt and Road Projects, such as a cross country oil and gas pipeline and deep sea port. Beijing is also a key supplier and diplomatic partner of the Myanmar military. It has even helped to broker ceasefires in parts of Myanmar's border where ethnic armies that have strong ties with China are dominant. David Mathieson is a Bangkok-based independent analyst closely following Myanmar. He said that China's interest was not in federalism but rather rare?earths and infrastructure, mining and the security of the economic corridor to the Indian Ocean. "China also perceives that the West is retreating from Myanmar, and Beijing will assert its new suzerainty in the country." CHINESE INTERESTS Since Min Aung Hlaing overthrew the elected government of Aung San Suu Kyi, in February 2021, Myanmar has been engulfed in a civil war. The protests against the coup turned into a national armed uprising that pitted the military against newly formed pro-democracy groups and ethnic armies. Fighting has devastated the impoverished Southeast Asian country, killing more than 93,000 and forcing 3.7 millions to flee their homes. Myanmar's military orchestrated a general elections last December and January that excluded major opposition, and resulted in an overwhelming victory for a party backed by the army, which paved the way for Min Aung Hlaing to be elected president. According to the state media, the delegation that accompanied Min Aung Hlaing in China included the chief ministers from Myanmar's Kachin State and Shan State, both of which border China. They also included the country's Industry Minister. Kachin State has one of the largest heavy rare earth mine belts in the world, and Shan State shares several trade routes with China. Aung Kyaw Soe said that the ministers' attendance suggests that discussions will likely focus on border trade, and the Myitsone Dam project, a $3.6 billion Chinese-led Kachin State project shelved by 2011. Aung Kyaw Soe stated that "in 2025, the military second-in command, General Soe Win personally started bringing up restarting Myitsone. I think they will talk about restarting it on?Min Aung Hlaing?s current visit to China." A recent arrest of Min Zin in China, a prominent American scholar from Myanmar, has hung over?Min Aung Hlaing’s visit. Horsey, from the Crisis Group, said that Min Aung Hlaing’s visit would bring more attention to Min Zin’s arrest because he was one of the leading Myanmar scholars who worked towards improving understanding between the countries. (Reporting and Editing by DevjyotGhoshal and Kate Mayberry).
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Is the Iran War just an energy shock or a turning-point? Russell
Losses in barrels of crude oil and increased prices are already a result of the Iran war. With a U.S. - Iran peace deal expected that will reopen the Strait of Hormuz the reckoning has begun: Was this a watershed or just another blip, we ask? Consider two ?precedents. Volkswagen's "Dieselgate", a scandal involving rigged emission tests in 2015, seemed innocent at first. But it signalled the end of diesel cars for passenger vehicles and the rise in electric vehicles (EVs). The impact of Russia's invasion of Ukraine in 2022 was short-lived due to the market's ability reroute the flows and absorb shock. The'market' has'so far acted as a magic wand to deal with the effective closing of the Strait of Hormuz, since the U.S. and Israeli attacks against Iran began on 28 February. Iran, Iraq, Kuwait and the United Arab Emirates have all lost at least 1 billion barrels worth of crude oil. The narrow waterway that separates Iran and Oman also traps up to 20% of the global supply of liquefied gas. The combination of strategic and business inventory releases, as well as a dramatic drop in crude imports from China, the largest crude importer in the world, have helped to keep Brent crude futures below $100 per barrel during the current crisis. One could argue that traders were influenced by President Donald Trump’s social media posts indicating that an agreement would be imminent. The long-awaited agreement began to take shape on Sunday, when the U.S. announced that it had reached an agreement with Iran on a framework which could allow vessels to resume transit. Trump announced on Monday that oil tankers had begun to leave the Strait. The agreement is not yet public, but the fact that tankers will soon be able to enter and exit the waterway with no hindrances raises questions about what comes next. First, the energy markets would receive a temporary sugar rush of relief as trapped tankers in the Gulf leave and deliver their cargoes. The next step would be to try to restore the supply chain and flow of goods to their pre-war level, followed by a longer process to rebuild depleted stocks. The price of crude oil and 'LNG could stay high for longer, as barrels lost are replaced. However, much depends on how quickly Middle East producers can ramp up production and exports. Also, whether the OPEC+ is able to pump the higher volumes they have agreed to produce. CHANGES IN BEHAVIOUR? The bigger question, however, is the impact on long-term. The views of consumers and governments will be crucial, particularly in Asia, which is the fastest growing region, where energy consumption is high. Customers who can change their minds are more likely to switch to hybrid or electric vehicles in order to protect themselves from future price spikes for diesel and gasoline. Australia, which is the largest diesel importer in the world and relies on foreign refineries to meet over 80% its fuel needs, provides an early glimpse of what this could look like. In May, Australian EV sales reached a new record, with a 20% market share. When combined with hybrids, this share increased to 46%. In China, which is the world's largest EV producer, EVs and hybrids will account for more than half of all sales by 2025. This figure rose to 60% this May. The government is also likely to change its policies in favor of renewables and electricty over fossil fuels. Dieselgate has seen the motor fuel lose popularity, particularly in Europe where its share in passenger car sales fell from 52% in 2015, to less than 10% in 2025. Asian countries like Vietnam have already put in place policies that encourage electric scooters and EVs. This momentum will likely grow throughout the region. In Asia, LNG is also a threat as countries weigh up the security risks associated with an imported fossil fuel versus buying solar panels, battery storage, and wind turbines?from China or developing local industries with Chinese support. Coal is one fossil fuel that could emerge as the long-term victor of this crisis. China, India, and Indonesia are all countries with large reserves of domestic fuel. They will continue to use it because they can afford it and have a reliable supply, even though this makes reducing carbon dioxide emissions more difficult. Importing nations may also deem coal as a safer investment, since the major exporters, Indonesia, Australia, and South Africa, have been reliable suppliers for many years and that shipping is not at risk due to chokepoints such as?the Strait of Hormuz. But a long-term move away from crude oil or LNG is not guaranteed, since the producers and exporters are unlikely to accept their demise. It may only take a rapid drop in prices and a prolonged period of low prices to make people forget about the previous crisis. Brent fell 4% to $83, on the?announcement of the deal, suggesting that this process is already underway. It's possible for governments and consumers to forgive and forget about the costs and disruption of the Iran War, just as they did in the past after price spikes caused by conflict. The views expressed are those of author, a contributor to. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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US closes investigation into 2024 Delta Air Lines melting down sparked by CrowdStrike failure
The Trump?administration announced on Monday that it had?closed?an?investigation, without seeking penalties, into a July 20, 2024 meltdown of Delta Air Lines sparked a global outage which disrupted the plans of 1.3 millions customers and cost $500 million to the carrier. Biden's administration launched an investigation into Delta after the CrowdStrike computer software outage. Other major carriers had been able to quickly resume normal operations. The U.S. Transportation Department spokeswoman said that the review revealed "Delta passengers received prompt refunds and adequate baggage assistance as well as appropriate?assistance to passengers with disabilities." USDOT, under President Donald Trump's administration, has rolled back some of the consumer protection initiatives announced by then-President Joe Biden. It has also reversed?a number?of penalties. Delta stated in a statement that it was thankful USDOT acknowledged "the catastrophic circumstance we faced as an Industry during the unprecedented outage" and dismissed the investigation by citing our care for customers. This included millions of dollars of refunds, hotel, food, and baggage assistance. USDOT stated that its decision to close the investigation included a directive to Delta to "provide adequate customer service assistance, including timely notification of your right to request a refund." Politico was the first to report on Monday that this decision was made back in November. USDOT waived an $11 million fine on Southwest Airlines in 'December. This was part of a settlement for $140 million over the airline's meltdown during a busy travel season. As part of the settlement, American Airlines was also required to pay $16,7?million in 2024. This was due to their treatment of wheelchairs and disabled passengers. The Federal Aviation Administration (FAA) closed its investigation last month into airlines that failed to comply with the required flight reductions at 40 major airports in 2025 during the government shutdown, without seeking any fines.
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 re-evaluate their financial forecasts.
In recent weeks, jet fuel prices have increased from $85-$90 per barrel up to $150-$200 per barrel. This is a major financial blow to an industry that relies on fuel for as much as a quarter 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 a spike in fuel costs, will have "notable impacts" on its results for the first quarter.
AIRASIA
Malaysian Airlines executives announced that the company has cut 10% of its flights in the group and imposed a fuel surcharge of around 20%.
AIR FRANCE-KLM
Cabin fares will increase by 58 euros (50 euros) for round-trip flights.
AIR INDIA
The Indian carrier announced that it will change its fuel surcharges from a flat rate domestic to a grid based on distance. The carrier said that surcharges for international routes do not compensate the steep rise in 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 one of the first airlines to announce a large increase in ticket prices after the conflict began. 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.
ALASKA AIR
The U.S. carrier said that it would raise fees by $5 for the first bag and $10 for the second for flights in North America, including Hawaiian Airlines. The third checked bag was raised from $50 to 200 dollars.
AMERICAN AIRLINES
The U.S. carrier announced that it would increase the fees for checked bags on domestic flights and short-haul flights by $50 for the third bag and $10 for each of the first two. The airline also reduced certain benefits for passengers in economy class.
The company had previously said that it anticipated a $400-million increase in expenses for the first quarter due to rising fuel prices.
CATHAY PACIFIC
Hong Kong Airlines announced that it would cancel about 2% scheduled passenger flights from mid-May to the end of June. Meanwhile, HK Express, its budget airline, was cutting around 6% of flights.
The carrier had previously stated that it would increase its fuel surcharge across all routes by 34% from April 1, and will review the charges every two weeks.
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 120 yuan.
DELTA AIR LINES
Delta announced that it would reduce capacity by about 3.5 percentage points compared to its original plan, and increase fees for checked baggage in order to offset the rising costs of jet fuel. The increase will be $10 on the first and second bags and $50 on third bags.
The U.S. carrier pulled all planned capacity increases for the current quarter, and forecast profits below Wall Street expectations. Delta CEO stated that it would not update the full-year forecast due to uncertainty about how long fuel prices would rise.
EASYJET
EasyJet has warned that it will suffer a larger half-year loss before tax of between 540 and 560 millions pounds ($731 and $758) in March, including an extra 25 million pounds of fuel costs.
Kenton Jarvis, CEO of British Airways, said that European consumers can expect to pay higher prices for tickets towards the end summer when fuel hedges end.
FRONTIER AÉRIENS
Fuel prices have risen significantly since the airline's forecast, and it is now reviewing its full-year outlook.
GREATER BAY Airlines
The Hong Kong-based firm said that it will increase fuel surcharges for most routes starting April 1, but keep them the same on routes to mainland China and Japan.
The carrier has announced that the surcharge on flights between Hong Kong,?the Philippines and other destinations 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, Bangladesh, and Nepal where the charges would go from HK$284 to HK$384 (US$49).
British Airways' owner IAG stated in March that it does not intend to increase ticket price immediately as it has hedged a large amount of fuel for the short to medium term.
INDIGO
India's largest airline announced that it will begin charging fuel fees on both domestic and international flights as of March 14. The charges include 900 rupees per flight to the Middle East, and 2,300 rupees per flight to Europe. Sources say that the company is lobbying for the Indian government's reduction of 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 "increasing operating costs". The airline said that baggage prices would rise either by $4 or $9.
Sources with knowledge on the subject have confirmed that KOREAN will be in emergency mode as of April due to rising oil costs. The airline will implement phased responses based on the oil price levels and increase company-wide efficiency to offset rising fuel costs.
AIRLINE OPERATORS IN NIGERIA A letter from the Nigerian industry group, which accuses the country's fuel association of artificially increasing prices, warns that Nigerian airlines will suspend flight operations on April 20 if fuel prices do not drop.
PAKISTAN INTERNATIONAL FLIGHTS
Fuel surcharges are cited as the reason for raising domestic flight prices by $20, and international flights by up to $100.
QANTAS AIRWAYS
Qantas, an Australian airline, said that it has delayed a planned A$150-million ($106-million) buyback. It also increased its fuel estimate for the second half 2026 from A$2.5-billion to A$3.1-3.33 billion.
Scandinavian Airlines announced that it would cancel 1,00 flights in April due to high jet fuel and oil prices. In March, the airline had cancelled "couples of hundred" flights.
SAS, which has already raised flight prices, stated that the surge in fuel costs 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 be announced in due course.
SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWAST AIRLINES
The American carrier announced that it would increase the checked baggage fee by $10 per bag for the first and second bags. This will bring the cost to $45 for first bag, and $55 for a second.
The Portuguese airline claimed that its price increases would partially offset the impact of fuel prices changes on its revenues.
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 be imposing a temporary fuel charge of 10 euros per person on routes between Turkey, Europe and North America from May 1. The fuel surcharge will be applied to all bookings made after April 1, for departures on or after May 1,
Turkish Airlines announced on April 10, that it would not be distributing any dividends from its net profit for 2025, instead choosing to keep the earnings and preserve cash.
T'WAY AIR
As part of the measures taken to combat the effects of war, the South Korean low cost carrier announced that it would furlough cabin crew in May and June without pay.
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 emailed statement, the airline said that it would also be increasing the first and second checked bag fees by $10 to customers traveling 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 Airlines
Vietnam's Aviation Authority said that the carrier intends to cancel 23 flights per day on domestic routes starting in April after it requested assistance from the government for the removal of an environmental tax.
VIRGIN ATLANTIC
Corneel Kster, the CEO of the airline, told The Financial Times that despite adding fuel surcharges on fares this year it will struggle to achieve profitability.
VIRGIN AUSTRALIA
Virgin Australia has said that it expects an increase of jet fuel costs of between A$30 and A$40 million in the second half of the fiscal year. It also anticipates a 1% decrease in capacity for the fourth quarter.
The airline had previously stated that it would adjust fares in order to reflect the rising costs.
WESTJET
Canadian Press reported that the airline would add a fuel surcharge of C$60 ($43), and will combine some flights to reduce costs.
(source: Reuters)