Aviation: Why flying will become even more expensive next year
More oil tankers are making it through the Strait of Hormuz again. Nevertheless, kerosene remains expensive. Some managers are warning their own industry not to overdo it with the prices.
European airline executives, including Ryanair's Michael O'Leary and Lufthansa's Carsten Spohr, predict that flight prices will rise significantly in the next 12 months due to high fuel costs and tensions in the Middle East. The International Air Transport Association reported that airlines paid $1550 per tonne of fuel in the week ending October 23, up 118% from the previous year.
Some airlines, such as Wizz Air, are hedging against fuel price fluctuations, which could give them a competitive advantage if prices remain high. The industry expects prices to rise, but warns that excessive increases could deter passengers.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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