Soaring fuel costs impact the aviation industry as multiple airlines increase fees and reduce routes.
According to the news from the reception desk on April 18th local time, the situation in the Strait of Hormuz has pushed up aviation fuel prices, and several airlines are responding to cost pressures by increasing checked baggage fees and cutting routes. Chris Sununu, CEO of the US airline industry organization "Airlines for America," stated that fuel costs account for about 25% to 30% of airline operating costs. The current global rise in oil prices is squeezing industry profit margins, with industry losses expected to reach at least $25 billion for the year. Sununu noted that compared to European airlines, US carriers are under relatively less pressure but are still closely monitoring the situation. In order to avoid a significant increase in ticket prices, several airlines are instead offsetting costs by raising additional fees.
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