Business Report

How global airlines are cutting costs amid rising fuel prices

Graphic News|Published

Global air carriers are having to introduce cost-cutting measures due to severely elevated jet fuel prices.

Image: File

Global air carriers are having to introduce cost-cutting measures due to severely elevated jet fuel prices in the wake of the ongoing war between the United States and Iran.

Lufthansa is cancelling 20,000 short-haul European flights this summer, citing soaring fuel costs that have rendered the routes unprofitable.

Jet fuel prices have doubled following supply and transport disruptions caused by the U.S.-Israel conflict with Iran. The crisis is rippling across the wider aviation sector, with carriers far and wide trimming schedules and hiking fares to offset expenses.

Industry analysts warn passengers to brace for further cancellations and ticket price surges as the Middle East conflict continues.

These are the measures taken by airline companies

Image: Graphic News