Lufthansa to raise ticket prices, cut flights amid rising fuel costs

German airline Lufthansa has warned that it will raise ticket prices and reduce the number of flights to offset an expected €1.7 billion increase in aviation fuel costs this year, linked to the closure of the Strait of Hormuz.

In a statement, the airline said the conflict in the Middle East is creating “enormous challenges” for the aviation industry, Caliber.Az reports, citing the company.

“The Group intends to offset this additional financial burden in the coming quarters through increased revenue from ticket sales, optimisation of network planning and further cost-saving measures,” the statement said.

However, the company noted that demand for air travel remains strong and that it expects “a strong travel summer.”

It also warned that “potentially reduced fuel availability later in the year represents an additional risk factor.”

The airline industry has been closely monitoring the impact of the war in Iran, which has raised concerns over potential fuel shortages in Europe due to reliance on Middle Eastern supplies.

Against this backdrop, Lufthansa Group has announced significant cuts to its summer schedule amid record-high aviation fuel prices.

By Bakhtiyar Abbasov