The Iran war is making travel more expensive.
Some airlines have announced that they will raise ticket prices due to geopolitical instability.
In particular, jet fuel costs have risen due to the war. Oil prices have faced considerable volatility, with tankers attacked in the Strait of Hormuz.
Brent crude sat around $97 a barrel early Thursday, up 60% since the start of the year.
Meanwhile, the war is also changing flight maps.
The Gulf countries are home to airport megahubs that connect passengers from all over the world, helping to link Europe with Asia and Oceania.
Plus, the Gulf itself was one of the busiest air corridors in the world before traffic was forced to re-route when the first strikes were launched in late February.
More people have therefore been trying to book direct flights between Asia and Europe.
That increased demand and a lower capacity is also prompting price hikes.
Here are the airlines that have spoken about their plans:
Thai Airways
Thai Airways is raising ticket prices by 10% to 15% due to “overwhelming” demand and rising fuel costs, Chief Financial Officer Cherdchom Therdthirasak said this week.
“Passengers planning to travel should secure their tickets as soon as possible before fares rise further,” Cherdchom said, according to Bloomberg. “Over the next two weeks, tickets will be extremely limited across both European routes and other destinations.”
Cathay Pacific
The CEO of Hong Kong’s flag carrier said at a news conference this week that fuel prices this month are twice the average, compared to the last two months.
“In March, like ever since the Middle East episode began, the costs of our fuel already doubled,” CEO Ronald Lam said, according to the AFP. “So we are going to announce (a surcharge rise) very soon.”
Air New Zealand
The Kiwi airline said it will cancel 1,100 flights affecting over 44,000 passengers between now and early May, its CEO Nikhil Ravishankar told Radio New Zealand.
“It’s an unprecedented issue as far as fuel price is concerned, but managing fuel spikes is a well-trodden path if you’re running an airline,” Ravishankar said.
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