Low-cost airlines cancel flights amid surging jet fuel prices

This trend is impacting the travel industry, with some experts advising travelers to book early. Ryanair CEO Michael O'Leary noted that fears of fuel shortages are making travelers hesitant to book. Low-cost carriers, which hold over a third of the global market, are particularly vulnerable as their lower ticket prices offer less margin to absorb rising fuel costs.

Financial analyst Dudley Shanley of Goodbody bank indicated that while adjusting flight plans is not unusual for this time of year, continued high jet fuel prices will necessitate further cuts for low-cost airlines. The industry generally agrees that as long as the conflict prevents oil and jet fuel imports from Gulf countries, less profitable flights, especially during the peak summer season, may not be maintained. European Energy Commissioner Dan Jørgensen warned that many people's holidays could be affected by cancellations or very high ticket prices.

The extent of flight adjustments varies among airlines, depending on whether they have hedging contracts for fuel. Canadian airline Air Transat reduced its May-October flight schedule by 6%, while Thai Air Asia X announced some flight and route cancellations, such as Bangkok Don Muang-Shanghai, without providing a total figure. In contrast, Wizz Air CEO Jozsef Varadi stated his airline is not cutting capacity, anticipating others will.

German group Lufthansa announced the most