SINGAPORE – Airline passengers in Asia are in for a turbulent summer travel season as sky-high jet fuel prices and tightening supply have forced many carriers to cut flights and raise surcharges.
With the price of jet fuel doubling since the war in the Middle East began on Feb 28, the consensus among analysts is that airlines in the region, especially low-cost carriers, simply cannot afford to fly as frequently the longer the conflict drags on.
The increase in jet fuel prices has resulted from the war in the Middle East, which began on Feb 28 when the United States and Israel started to bomb Iran. Iran has all but closed the Strait of Hormuz, a key chokepoint through which around 20% of the world’s energy supply passes, leaving many countries scrambling for fuel.
Wary of getting close to conflict areas, of cancelled or affected flights, many travellers are looking to routes considered to be safer. Singapore Airlines, Cathay Pacific, Korean Air, and even Qantas Airways have reported strong ticket sales in March.
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