Rising Jet Fuel And Ticket Prices Could Disrupt Summer Air Travel
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Rising jet fuel prices due to the Middle East crisis are expected to disrupt summer air travel, as airlines pass costs onto passengers and cancel unprofitable routes. The Airports Council International warns of higher ticket prices and potential fuel shortages, although concerns about shortages are downplayed. Lufthansa anticipates an additional $2 billion cost this year from rising kerosene prices, which have spiked significantly. The situation is exacerbated by the closure of the Strait of Hormuz, impacting Europe's jet fuel supply.
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