Airlines Respond to Soaring Jet Fuel Prices With Fare Increases, Capacity Cuts and Forecast Revisions
A sharp jump in jet fuel prices - from roughly $85-$90 to between $150 and $200 per barrel - tied to the U.S.-Israeli conflict with Iran has forced airlines to take sweeping measures. Fuel, which can represent up to a quarter of operating costs for carriers, has prompted fare hikes, fuel surcharges, capacity reductions, guidance suspensions and oth…