"As jet fuel prices have doubled since the start of the Iran conflict and some lower profitability routes and flights are no longer economic, we are making schedule adjustments accordingly."
"The average price for a gallon of jet fuel reached $4.32 on Thursday, up from $2.50 the day before the war in Iran broke out."
"Fuel and labor costs are typically the largest annual expenses for airlines. Delta Air said this month that the tab for higher fuel would add $2 billion to its second-quarter costs."
"International Energy Agency Director Fatih Birol said Europe has 'maybe six weeks' of remaining jet fuel supplies and said the global economy faces its 'largest energy crisis.'"
Air Canada will suspend flights to New York's JFK International airport from June 1 to October 25 due to jet fuel shortages and rising prices linked to the Iran conflict. The airline will continue service to LaGuardia and Newark airports. Jet fuel prices have doubled since the onset of the conflict, impacting the profitability of certain routes. Other airlines are also adjusting operations and increasing fees to manage rising fuel costs, with the International Energy Agency warning of a significant energy crisis in Europe.
Read at Fortune
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