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Airline cancels flights due to Middle East conflict
The global air travel industry is still severely affected by the Iran War. Many people are unable to fly when they planned, after major Middle Eastern hubs such as Dubai, Doha, and Abu 'Dhabi were closed. 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. Heraklion, on April 30, and Rhodes and Larnaca, on May 21. Thessaloniki-Tel Aviv flights are cancelled up until June 26. Flights to Riyadh, Amman and Dubai will resume on May 21. The flights to Beirut have been cancelled until June 26. Flights to Dubai will be suspended until June 29. Erbil, Baghdad and Erbil are also affected until May 2. AIRBALTIC AirBaltic, a Latvian airline, has announced that flights to Tel Aviv are cancelled until May 31, 2019. Dubai flights are cancelled until 24 October. AIR CANADA The Canadian carrier has canceled flights to Tel Aviv, Dubai and Abu Dhabi until September 7. AIR EUROPA Spanish Airlines has cancelled all flights to Tel Aviv till May 31. AIR FRANCE-KLM Air France has suspended Tel Aviv flights to Beirut, Dubai, and Riyadh until May 3. KLM suspends flights to Riyadh and Dubai until the 14th of June. CATHAY PACIFIC Hong Kong Airlines has suspended its flights to Dubai, Riyadh and cargo freighter service to Dubai and Riyadh up until May 31, and until June 30, respectively. In April, the airline will increase passenger flights from Hong Kong to London, Paris, and Zurich to meet the increased demand for travel to Europe. It intends to continue operating all scheduled flights after June. The U.S. carrier cancelled flights between New York and Tel Aviv, and has delayed the start of its Atlanta to Tel Aviv route till September 5. The launch of the Boston-Tel Aviv flight, originally scheduled for late October, was delayed until further notice. EL AL ISRAEL AIRLINES Israel's carrier announced that it will continue to expand its operations and, from April 27, operate flights to around 40 active gateways. All flights to Dubai have been cancelled until May 31, 2019. EMIRATES The UAE airline announced that it will be operating a reduced flight schedule and flying to over 100 destinations. ETIHAD AERWAYS The UAE carrier has announced that it operates a commercial flight schedule from Abu Dhabi to around 80 destinations. FINNAIR The Finnish airline has cancelled all flights to Doha until July 2 and continues to avoid the airspaces of Iraq, Iran Syria, and Israel. The airline will only resume its Dubai flights by October. British Airways, owned by IAG, will reduce flights to the Middle East once services resume. Jeddah will be permanently dropped as a destination. From July, it plans to reduce the number of flights to Dubai, Doha and Tel Aviv from two daily flights to just one. Riyadh will be reduced from two daily flights in mid-May to just one. The changes will be in effect until the end of the summer season on October 24. One Dubai service will resume on October 16th. Iberia Express, the Spanish low-cost carrier of IAG, has canceled flights to Tel Aviv until May 31. KUWAIT AIRWAYS On April 26, the airline will resume flights to 17 destinations out of Kuwait International Airport after the authorities reopened Kuwait's airspace. Jazeera Airways is another Kuwaiti carrier that has resumed service from Kuwait to nine destinations after temporarily moving operations to Saudi Arabia. JAPAN AIRLINES Japan Airlines has suspended its scheduled Tokyo-Doha and Doha-Tokyo flight until May 31, and Doha-Tokyo until June 1. The Polish airline has suspended flights to Tel Aviv till May 31. The airline also cancelled flights from March 31 until May 30, and from June 30 to 30 to Riyadh. The airline will operate its winter route from Dubai to?October. LUFTHANSA GROUP Lufthansa and other airlines, including Swiss, Austrian Airlines and Brussels Airlines, have suspended flights from Dubai and Tel Aviv to Dubai until May 31. Flights to Abu Dhabi and Amman, Beirut Dammam, Riyadh Erbil Muscat Tehran, Riyadh Erbil, Brussels Airlines, Swiss, Austrian Airlines, Brussels Airlines, and Edelweiss have been suspended until May 31. Eurowings, a low-cost carrier, has suspended flights from Tel Aviv to Beirut until May 11, Erbil and Beirut until May 14, and Dubai, Abu Dhabi, and Amman to?October 24. ITA Airways has extended the suspension of flights from Tel Aviv, Riyadh, and Dubai to May 31. MALAYSIA AIRLINES Malaysian Airlines has suspended all flights to Doha through June 14. NORWEGIAN AIR The low-cost carrier has pushed back the planned launch of its Tel Aviv & Beirut services until June 15. PEGASUS Pegasus Airlines, Turkey's national airline, has cancelled all flights to Iran, Iraq, Amman Beirut, Kuwait Bahrain Doha Dammam Riyadh Dubai Abu Dhabi Sharjah and Abu Dhabi until June 1. QANTAS Australia's national carrier has added flights to Rome, Paris and other European destinations to meet the increased demand. The number of flights to Paris will rise from three to five weekly return flights, and the Perth to Singapore service will go from daily to ten flights per week. A new schedule for flights will be implemented gradually from mid-April until late July. QATAR AIRWAYS From May 1, the carrier will resume daily flights from Damascus to Bahrain, Kozhikode and Kozhikode. Qatar Airways has announced that it will expand its international flight network from June 16 to more than 150 destinations. ROYAL MAROC The Moroccan carrier has announced that flights to Doha and Dubai have been cancelled until 30 June. SINGAPORE Airlines In response to increased demand, the carrier has extended its Singapore-Dubai suspension flight until May 31 and added?services' on the Singapore London Gatwick route until late October 24, while also adding?services' on the Singapore Melbourne routes until late March. TURKISH AIRLINES SunExpress, Turkish Airlines joint venture with Lufthansa has cancelled flights from Dubai to May 21. WIZZ AIR Low-cost carrier suspends flights from Europe to Amman, Dubai and Abu Dhabi until mid-September. All flights to Medina are suspended indefinitely. (Compiled by Josephine Mason and Jamie Freed. Elviira Loma, Tiago Branao, Agnieszka Olesska, Bernadette HOG, Boleslaw LaSocki, Romolo Tosiani. Editing by Sumana Nady, Joe Bavier Mark Potter Milla Nissi -Prussak Susan Fenton Rod Nickel
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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 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 up to 25% of its operating costs. Here is an alphabetical list of the ways airlines are responding to climate change. AEGEAN AIRLINES The Greek airline anticipates that the suspension of Middle East flights, as well as a spike in fuel costs, will have "significant impact" on their first-quarter earnings. AIRASIA X Malaysian Airlines executives claimed that the company has?cut 10 percent of flights in the group and imposed a fuel surcharge of around 20 percent. AIR CANADA The Canadian largest airline plans to reduce four of its daily flights to New York to 38 due to rising fuel prices. From June 1,?2026, the four flights to JFK International Airport are being cut. AIR FRANCE-KLM The airline group announced that it would increase the price of long-haul tickets to offset rising fuel costs. Cabin fares are expected to increase by 59 euros (50 euros) per round-trip. KLM, the Dutch arm of the group, announced on April 16 that it would cancel 160 flights across Europe in the next month due to higher fuel prices. AIR INDIA The Indian airline said that it will change its fuel surcharge system from a flat surcharge for domestic flights to one based on distance. The Indian 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 broke. The airline also suspended its earnings forecast for the full year due to volatility in the fuel markets. AIR TRANSAT The Canadian airline announced that it would reduce its planned capacity by 6 percent from May to October of this year. Cuts are expected to be made on routes to Europe, the Caribbean and Cuba. 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 airline retracted its profit forecast for the full year and warned that margins would be severely impacted by the sharp increase in fuel prices. It has also reduced capacity in certain markets. AMERICAN AIRLINES The U.S. airline slashed their 2026 profit projection, pushing lower expectations to a lose, and stated that it expects its jet fuel bills to rise by more than 4 billion dollars this year. The government has increased the fees for checked bags on domestic flights and short-haul international flight by $50 for the third bag and $10 for each of the first two bags. It also reduced certain benefits to economy passengers. ASIANA AIRLINES Newsis reported that the South Korean airline would cut 22 flights from April to July because of fuel price increases. 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 AIRLINES Air China said that it would increase fuel surcharges on domestic flights starting April 5. Flights of less than 800 km will be charged a surcharge of 60 yuan, and flights above 800 km will be charged a surcharge 120 yuan. DELTA AIR LINES Delta announced that it would reduce capacity by 3.5 percent from its original plan, and increase fees for checked baggage in order to offset the rising costs of jet fuel. The increase will be $10 for first and second bags, and $50 on third bags. The U.S. carrier pulled all planned growth in capacity for the current quarter, and forecast profits below Wall Street expectations. EASYJET EasyJet has warned that it will suffer a larger half-year loss before tax of between 540 and 560 millions pounds ($732 and $759million), including an extra 25 million pounds of fuel costs in march. FRONTIER Airlines According to The Wall Street Journal, a group of U.S. airlines including Frontier have pitched a $2.5 Billion relief plan to the U.S. Government. The report stated that the figure was based on the amount of jet fuel the group expected to spend this year in comparison to previous forecasts. Fuel prices have increased dramatically since the carrier's forecast, and it has stated that it will be reviewing it. GREATER BAY Airlines The Hong Kong-based firm said that it will increase fuel surcharges for most routes on April 1, but keep them the same on routes to mainland China and Japan. 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. British Airways' owner IAG announced it would increase ticket prices in order to reflect the higher costs of jet fuel. Despite its fuel hedges it is "not immune" from the wider fallout caused by fuel price volatility. 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. JETBLUE AERWAYS Joanna Geraghty is the CEO of the low-cost airline based in the United States. She told her employees, via a memo, that she would not be considering bankruptcy this year despite the fact that rising jet fuel prices threaten the financial recovery. According to an SEC filing, the company has entered into a debt financing agreement worth $500 million. Sources with knowledge on the subject have confirmed that KOREAN will be entering emergency management mode in April as oil prices continue to rise. LUFTHANSA The German airline group announced a new low-cost "Economy Basic", which limits free carry-on luggage to a "laptop or small backpack". Previously, the group said that 20,000 short-haul flight would be removed from their schedule by October. This is equivalent to about 40 metric tons jet fuel. PAKISTAN INTERNATIONAL AIRLINES 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 ($108-million) buyback. It also increased its fuel estimate for the second half 2026 from A$2.5 billion to A$3.1 billion or A$3.3 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. SPIRIT AIRLINES Air Current reported that people familiar with the situation said the U.S. low cost carrier requested hundreds of millions in emergency funding from the Trump administration to offset the rising fuel prices and prevent a potential liquidation. 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 Airlines The U.S. airline forecast its second-quarter profits below the market's expectations. Its CEO also warned that the price spike in jet fuel would be a "billion-dollar headwind" for the airline during the quarter. The previous increase in the cost of checked bags was $10. 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 it would increase fares between 10% and 15% in order to combat rising fuel prices. The European airline and tour operator reduced its full-year profit forecast and suspended revenue guidance. It said it had incurred extra costs of about 40 million euro due to the March war, including repatriation and operational disruptions. TURKISH AIRLINES LUFTHANSA SunExpress is a joint venture of Turkish Airlines and Lufthansa. It announced that it would charge a temporary fuel fee of 10 euros for each passenger on routes connecting Turkey with mainland Europe. The fuel surcharge will be applied to all bookings made after April 1, for departures 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 earnings and preserve cash. T'WAY AIR As part of the measures taken to combat the effects of war, the South Korean low-cost airline said that it would furlough cabin crew in May and/or June without pay. UNITED AIRLINES Scott Kirby, the CEO of the U.S. airline, said that ticket prices could rise up to 15%-20% to compensate for a spike in jet fuel costs. The company has already implemented five fares increases in the last quarter of this year, as well as higher baggage fees. This, it says, have helped offset the rising fuel prices. The carrier forecasted second-quarter profits and full-year profit below Wall Street expectations. It said that it would recover only 40-50% through fares and revenue measures during the second quarter. This figure will improve to 70-80% in the third, and up to 85-100% in the fourth. VIETJET Due to possible fuel shortages, the Vietnamese budget airline has 'adjusted' flight frequencies on certain routes. VIETNAM Airline Vietnam's aviation authority announced that the carrier will cancel 23 flights per day on domestic routes starting in April after it requested assistance from the government to remove an environment tax on jet fuel. 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. VOLOTEA The Spanish low cost airline has introduced a new pricing strategy that links ticket prices with fuel costs. This could add an additional surcharge after purchase of up to fourteen euros per passenger per flight. WESTJET Globe and Mail reports that the Canadian airline has reduced seat capacity in June. The Canadian Press reported previously that the airline would add C$60 ($44.50) to certain bookings, and combine flights due to rising costs.
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United Airlines abandons merger talks with American Airlines following rejection of their merger proposal
United Airlines announced on Monday that it had stopped its pursuit of a merger with American Airlines after the latter declined to engage in a first approach. Scott Kirby, CEO of United Airlines, said: "I wanted to tell that story to American but they refused to engage with me and responded instead by 'publicly closing the doors. Kirby brought up the idea of a merger with American during a meeting in late February with U.S. President Donald Trump, according to people familiar with the situation. The meeting was to discuss the future development of Washington's Dulles Airport. The combination of two of the U.S.'s largest network carriers would have been the biggest consolidation in a decade. It would have further tightened a market that was already dominated by four similar-sized players. Analysts and experts are concerned about the antitrust implications of a possible tie-up due to its size. Reporting by Shivansh Tiwary, Bengaluru. Editing by Shinjini Ganuli
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Environmentalists from the Western Balkans demand renewable energy over US gas projects
Environmental activists in the Western Balkans urged their governments on Monday to ignore the lobbying by the United States for the construction of gas infrastructure in the area and instead focus on renewable energies, in accordance with EU policy. The U.S. is looking to reduce the Western Balkans' dependence on Russian oil and gas, as the European Union intends to ban all Russian imports by the year 2028. Activists claim that new gas projects will have a negative effect on climate change and the economy. They argue long-term investment won't pay off. The Three Sea Initiative Summit in Dubrovnik is expected to conclude an inter-governmental agreement between Bosnia and Herzegovina and Croatia later this week regarding the transport of U.S. Natural Gas to Bosnia via a terminal for liquefied?gas on the Croatian Island of Krk. The agreement authorizes AAFS Infrastructure & Energy LLC, a U.S.-based company, to build and operate the Southern Interconnection gas pipeline under a concession contract. In a statement, activists from 47 nongovernmental organisations stated that "permitting, expropriation, and construction would easily take a decade, and the cost of infrastructure alone could be billions even before gas costs are added." They called on the governments of Albania and Bosnia to make autonomous decisions on their energy plans, in accordance with EU legislation, policy, and on the basis of updated, publicly available data and public consultations. AAFS Infrastructure and Energy LLC was formed in the United States last year and is run by Jesse Binnall - a former Trump attorney - and Joseph Flynn - the 'brother of Trump’s?former National Security Advisor Michael Flynn. It has announced that it will invest around 1.5 billion euros (1.76 billion dollars) in the project. Earlier this week, Bosnia's Regional Parliament?amended a law regulating the project of a gas pipeline to name AAFS?as its key investor and leader. Last week, the EU delegation warned Bosnia, which is aspiring to join the EU, that the country must 'align its legislation and standards, including in energy policy, with those of the EU. The EU delegation stated in a press release that "Bosnia and Herzegovina is a country with a huge renewable energy potential. EU energy policy for BiH aims to help the country realize this potential."
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Singapore courts: Thailand's 'Land Bridge Plan' is $31 billion amid the Hormuz Crisis
The closing of the Strait of Hormuz 'given Thailand the impetus it needed to move forward with a long-standing plan to establish a?logistics link between the Indian Ocean and the Pacific Ocean. Its government sought to court Singapore on Monday as a?potential investor. Thailand's government?said?it was reviving its "Land Bridges" project across the narrow southern peninsula, after recent disruptions along the Strait of Hormuz highlighted the vulnerability of global shipping choking points including the Malacca Strait. During a period of political turmoil, the previous administration had drafted a Land Bridge law. However, the proposal was abandoned due to incomplete environmental and health impact assessment and public hearings. The Transport Minister Phiphat Ratchakitprakarn stated at the weekend that a proposal would be submitted to the cabinet in either June or July, and the government will seek investors to fund the estimated 30.97 billion baht project. This could start in the third quarter. ALTERNATIVE ROUTE The Land 'Bridge' is a decades-old concept that envisions two deep sea ports in Ranong, on the Andaman, and Chumphon, on the Gulf of Thailand, connected by 90 km (56 mi) of rail and road, plus energy infrastructure such as pipelines. The project will provide an alternative to the Malacca Strait - the 900 km (550 miles) long channel that is shared by Indonesia, Thailand Malaysia and Singapore. It provides the shortest route between East Asia and the Middle East and Europe. Anutin Charnvirakul, Thai Prime Minister, presented the plan during a Monday meeting with Chan Chun Sing. Singapore is a major regional investor and sits at one end of the Malacca Strait. Last year, more than 100,000 ships, mostly commercial, passed through the strait. Rachada Dhanadirek, a Thai government spokesperson, said that?Chan expressed interest in the proposal. Indonesia's Finance Minister last?week created a stir when he openly speculated about how countries could impose a toll on ships to monetise Malacca Strait. He later clarified that this would not be possible and made several?clarifications. The Land Bridge has been deemed more viable than "Kra Canal", an old idea that was rejected due to security, environmental and financial concerns.
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Maguire: China's clean technology exporters are cashing in on the Iran war, which has affected oil and gas flows.
Exporters of solar systems, batteries, electric vehicles, and other clean energy components from China posted record sales in the last month, as the Iran War and the subsequent closure of Strait of Hormuz halted oil and gas supplies?from the Middle East. Ember's data shows that the combined sales of Chinese clean-energy parts and products in March totalled $26 Billion. This was the highest clean-tech monthly tally recorded by the world's largest battery, EV, and solar panel manufacturer. The total of'monthly' receipts was up by 30% compared to February, and 52% higher than the same month of 2025. This is due to the earthquake shock caused by the bombings in the Middle East as well as the closure of important shipping lanes. BATTERY BOOM Last month, battery systems were China's largest seller of all clean energy components. Sales totaled just over $10 billion. This compares with average monthly battery exports of $7 billion since 2025. It also marked a significant acceleration in the global order for battery systems for electric vehicles and energy storage by utilities. Europe was the leading region for Chinese batteries imports. It accounted for 43% of the total or $4.3 billion, followed by Asia which absorbed 29%. In March, Germany was the largest market for Chinese batteries ($1.26 billion). This was followed by the United States ($823 million), Netherlands ($635 millions), Vietnam ($597million) and Australia ($595million). Germany registered the biggest monthly increase in battery imports in comparison to February. Import purchases increased by $286 million in March. Vietnam and Oman both registered monthly increases of more than $200 million in the last month. SOLAR SPURT The export of Chinese solar systems jumped the second-highest in March. From $2.1 billion in February, the total jumped to $4.8?billion, the highest monthly total in the last 20 years. Asia was the most popular destination with a total of?43%, or $1.3 billion, followed by Europe. The Netherlands ranked as the largest overall importer of solar panels in March. They paid $400 million. This was a nearly $200 million increase over the previous month and compares with a monthly average around $264 millions since 2025. Last month, India, Indonesia, and the Philippines were the top five buyers of solar systems from China. EXPORT VOLATILITY OF EV China's electric vehicle exports have been in turmoil so far in 2026, as changes in subsidy programs in various countries affected consumer demand before the Middle East War disrupted global commerce and consumer confidence. Even so, the total EV sales for the first quarter of 2026 was just over $21 Billion, a record compared to the $12 Billion in the same period of 2025. Europe was the top destination for Chinese EVs, with 45% of sales in March. Asia followed, with a 25% share. Belgium was the top exporter of EVs, followed closely by Brazil, Germany, United Kingdom and Australia. The EV exports to the Middle East in March were marked by a steep drop in sales as air raids brought the goods to a standstill. In March, China exported 4% of its EVs to the Middle East, but that number will rise to 11% by 2025. In March, the Middle East saw a sharp decline in the deliveries of grid systems made in China for the same reason. This shows that China's exporters have also suffered from the Iran War. Those drops in Middle East delivery also point to potential pent up demand once trade flows resume and peace is restored. This puts Chinese clean-tech exporters in an excellent position to maintain strong global sales, even when Middle-East oil, gas, and fuel flows start to recover. These are the opinions of the columnist, an author for. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn, X 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 7 days a weeks.
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JetBlue Airways' return to profitability may be affected by the Spirit bailout and its large fuel bill
JetBlue Airways, which was on its way to its first profit since the pandemic began, has been forced to increase its debt in order to quell bankruptcy speculation. New York-based JetBlue Airways began the year with a sense of confidence that a multi-year restructuring, which was launched in 2024, would be successful as cost pressures had eased and demand for travel remained strong. Fuel prices have increased since the Middle East war broke out, and a possible U.S. bailout for Spirit Airlines could undermine JetBlue's fragile recoveries. Wall Street wonders if the airline can survive the worst jet-fuel supply crisis in the history of the industry, a result of Washington's Iran war. The war is destroying profits for U.S. carriers, even though they are reporting high demand. INVESTORS WAIT FOR QUARTERLY RESULT JetBlue will report its quarterly results on February 2, and Wall Street is expected to scrutinize the impact of high jet fuel prices on the carrier's margins. The company?recorded net annual losses since 2019, and has promised to break even this year on a net-basis. Jet Forward, its turnaround program, netted the airline $300 million before taxes, interest and other expenses in 2025. Its forecast for 2026 also included a similar amount, assuming a fuel average of $2.27 / gallon. Last month, however, the airline revised its fuel estimate for the first quarter to $3.01-$3.06 per gallon. JetBlue would have to spend $2.5 billion, or $450 million more, than in 2025 if it consumed 826 million gallons in 2026 at $3.04 per gallon. The costs of these increases would cancel out the savings that JetBlue had made last year from its lower fuel consumption, which could have been used to pay off some of the $9.5 billion it owed in debts and lease obligations. Daniel McKenzie is an equity analyst with Seaport Research. He expects JetBlue to increase its fuel expenses by 40% annually to $2.9 billion. He assumes JetBlue will offset about 30% of these costs by higher revenues, resulting in a pre-tax profit of approximately $1.1 billion. JetBlue has declined to comment about this story. LIQUIDITY NOT AN IMMEDIATE CONCERN JetBlue concerns go beyond jet ?fuel prices. Spirit Airlines' rescue by the government could lead to a renewed competition among JetBlue's leisure travelers for low-cost routes. Budget carrier JetBlue is taking steps to correct its course. JetBlue CEO Joanna Geraghty said last week that the low-budget airline was not contemplating bankruptcy this year. JetBlue's debt is high for its size but it ended the year with $2.3 billion cash. JetBlue has also significant assets that it can borrow against. Joseph Rohlena of Fitch's North American Airlines analyst said that JetBlue was not concerned about liquidity at this time. Fitch downgraded JetBlue's credit rating earlier this month to CCC+. The company was worried about its ability to pay for fixed expenses with?its earnings. Rohlena, who was referring to raising money, said that if fuel prices remain high, or if the demand for oil starts to fall, and they start to burn more cash, then it may be necessary to return to the market. JetBlue is a smaller?carrier with fewer international flights. It also offers premium seating options that are highly sought after by affluent travellers. Even these carriers have reported significant pressure due to rising fuel prices. Delta expects to recover 40 to 50 cents for every dollar more it spends on extra fuel in this quarter. United will see a similar gap, before it improves later in the year. Alaska Airlines only recovers about a third of the fuel increase. This forced it to withdraw their forecast.
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Spain urges you to buy airline tickets as the Iran war increases oil prices
Spain's tourism and industry minister has advised consumers to buy tickets as early as possible in order to avoid higher prices caused by the rising oil price triggered by the war in Iran. Spain, which welcomed 97 million record tourists in 2018, 3.5% more than 2024, could continue to grow at a similar rate this year. Industry and Tourism Minister Jordi Hereu stated. In an interview with the 'Spanish newspaper Expansion published on Monday, he warned that higher fuel prices could push up airfares, and have a negative impact?on demand. Hereu stated that "we recommend that people purchase their tickets as soon as possible because (airlines are using kerosene purchased some time ago) and there is a price fluctuation involved." "... It's already obvious that prices have increased and this could impact demand," he added, adding that Spanish authorities and European authorities are taking measures to avoid fuel shortages. Since the U.S. launched strikes against Iran on February 28, prices have risen by about 50% due to disruptions in global oil supply. Last week, Transport & Environment said that rising oil prices have added more than $100 to long-haul flight prices from Europe. This cost is likely to trigger higher ticket prices. Hereu stated that Spain was the fourth largest economy in the Eurozone and had a higher stock of kerosene than other countries. He warned that "if the countries who send tourists to Spain have problems, then we will too." (Reporting and Editing by Ros Russel)
Data shows that shipping traffic through Hormuz is still low, despite the absence of any US-Iran agreement.
Shipping data revealed on Monday that at least seven ships?mostly dry bulk vessels? had crossed the Strait of Hormuz in the last 24 hours. This is consistent with the recent tepid activity, and talks between Iran & the United States are stalling.
According to data from ship tracking specialists SynMax and Kpler, the vessels involved included dry bulk vessels?leaving Iranian ports and ships leaving Iraqi port.
The shipping traffic that passed through the vital waterway at the 'entrance to Gulf' during an uneasy ceasefire, between Washington and Tehran, represents only a fraction the 140 average daily passages prior to the Iran War beginning on February 28, 2008.
The U.S. Central Command has redirected 37 ships since a blockade against Iran was imposed in April 2013, the military announced on April 25.
According to satellite analysis by TankerTrackers.com, six Iranian 'tankers' returned to Iranian ports in the last few days and sailed through Hormuz with 10.5 million barrels?of?oil.
TankerTrackers.com estimates that around four million barrels?of?Iranian?oil onboard tankers passed through the U.S. ban?on April 24. Reporting by Jonathan Saul Editing and Bernadettebaum by David Goodman
(source: Reuters)