Global airlines struggle as jet fuel prices soar

Rising jet fuel prices amid the Middle East conflict are putting pressure on the global aviation industry and driving up ticket costs.

Before the conflict, a Cathay Pacific economy-class ticket from Sydney to London cost around $1,370, Caliber.Az reports, citing CNN.

Prices have now exceeded $2,000 and, on certain days, can surpass $3,500 due to fuel surcharges.

Airlines facing more than a twofold increase in fuel costs are cutting flights and revising strategies. Air New Zealand and Vietnam Airlines have already announced reductions in flight frequency, while Korean Air has moved into “emergency management mode.”

China, aiming to secure domestic fuel supplies, has banned exports of aviation fuel. At the same time, local carriers—including Air China, China Eastern Airlines, and China Southern Airlines—are issuing cautious forecasts, citing geopolitical instability and weak global economic growth.

According to HSBC, fuel now accounts for 35–38% of operating costs for major Chinese airlines. Under these conditions, carriers continue to raise fees. For example, Colourful Guizhou Airlines plans to increase fuel surcharges on domestic flights fivefold starting April 5.

Further pressure on the market comes from the situation in the Strait of Hormuz, through which a significant portion of global oil and gas supplies passes.

Experts warn that if restrictions persist in this key route, jet fuel and airline ticket prices could continue to rise worldwide.

By Bakhtiyar Abbasov