Airlines are cutting thousands of flights and raising fares as jet fuel prices double amid the Middle East conflict. Oil transportation disruptions through the Strait of Hormuz have triggered global aviation crisis.
United Airlines will cancel 5% of planned flights this year after fuel prices doubled in three weeks. CEO Scott Kirby warned this could add $11 billion in annual expenses for his carrier alone.
Major carriers implementing fare increases include Cathay Pacific, AirAsia, Thai Airways, Qantas, and Air New Zealand. Cathay's fuel costs have doubled this month, forcing updated fuel surcharges across all routes.
Vietnam Airlines suspends 23 weekly flights as fuel shortages emerge. Scandinavian carrier SAS cancels at least 1,000 April flights, while Air New Zealand cuts 1,100 flights affecting 44,000 passengers.
Aviation expert Rigas Doganis calls it a 'perfect storm' - airlines must cut fares to stimulate demand while higher fuel costs force price increases.