IATA warns airline profits could halve by 2026 as jet fuel costs surge $100 billion
By
Sawdah Bhaimiya
Summary
IATA warns that global airline profits are expected to halve in 2026 due to a $100 billion surge in jet fuel costs. The rising fuel prices are attributed to the U.S.-Iran conflict that began on Feb. 28, adding to industry challenges from the Covid-19 pandemic and the war in Ukraine. IATA's outgoing director general Willie Walsh noted average jet fuel prices are expected to be 70% higher year-on-year, with uncertainty around how long travelers and shippers can tolerate the higher costs.
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bskyIATA warns airline profits could halve by 2026 as jet fuel costs surge $100 billioncnbc.comKey quotes
· 2 pulledAs a result, we expect average jet fuel prices to be 70% higher year-on-year
The big unknown is how long travelers and shippers can tolerate the higher costs
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