The Guardian | American Airlines says soaring price of jet fuel will cost it $4bn this year by Gwyn Topham Transport correspondent

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The price of jet fuel has more than doubled since the US‑Israel war on Iran began at the end of February, forcing American Airlines— the world’s largest carrier by passengers—to absorb an additional $4 billion in fuel costs this year and wiping out its previously forecast $1.8 billion profit; the airline plans to offset the surge by raising fares while noting that European carriers have largely hedged against such spikes. Globally, airlines are grappling with higher fuel prices, with some, like Virgin Atlantic, already adding fuel surcharges, and concerns are growing over supply security after the closure of the Strait of Hormuz and blockades that threaten longer‑term fuel flow. The International Energy Agency warned that Europe could face a summer of disrupted flights if new supplies from the US and Nigeria are not secured, as jet‑fuel demand in August is projected to be 40 % higher than in March.

Read more: https://www.theguardian.com/business/2026/apr/23/american-airlines--jet-fuel-cost-4bn-this-year

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