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.
Ryanair CEO Michael O Leary predicts that flight prices will see their largest increase ever in Europe over the next 12 months, rising by 20 percent. He cites the ongoing tensions in the Middle East and high fuel prices as reasons. Lufthansa CEO Carsten Spohr and Condor CEO Peter Gerber also foresee a significant rise in ticket prices, with Spohr expecting a double-digit increase.
The high fuel prices are attributed to increased refining and transportation costs, despite more oil tankers passing through the Strait of Hormuz.
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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