Airline tickets, record sales before price hike - Impact of fuel prices could lead to up to 10% increase
Global airlines are experiencing record ticket sales as passengers book flights well in advance, fearing possible price increases. It’s a prospect that’s almost taken for granted: the war in the Middle East threatens to upend the entire structure of global air travel, resulting in painful losses that could fall heavily on passengers. In the near future, an estimated impact on ticket prices, which could rise by up to almost 10%.
The Financial Times estimates that the world’s 20 largest airlines have lost a staggering $53 billion in value since the start of the Iran war. The airline industry is experiencing its worst crisis since the Covid-19 pandemic, with the war causing similar disruptions, with flights cancelled and hub airports closed. However, the situation has been made worse by the rise in the cost of jet fuel, which has doubled since the start of the war.
The first airlines to pay the price are low-cost carriers. Wizz Air, which was engaged in an expansion project before the conflict, was hit by a wave of "aggressive" short selling days ago after it said the war in Iran would virtually wipe out its profits this year. US giants Delta, United and American Airlines are testing scenarios in which oil prices could exceed $170 a barrel.
However, the position of many European airlines is currently different. According to some analyses, European companies could "benefit" somewhat from the closure of Middle Eastern hubs, with traffic from Asia being redirected especially to European airports.
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