fuel

‘It’s a failed nation’: Trump pressures Cuba as fuel crisis deepens | Oil and Gas

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US President Donald Trump has called Cuba ‘a failed nation’, as his administration expands its pressure campaign. Cuba has announced it’s getting rid of its fixed prices at the petrol pump as fuel shortages and power cuts worsen.

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Trump says he will suspend petrol tax amid soaring US fuel prices | Energy News

Senator Hawley plans legislative action supporting President Trump’s bid to waive the petrol tax amid rising consumer costs.

United States President Donald Trump said he will cut the 18-cent federal tax on petrol to offset surging prices that have continued to soar after his comments that the US ceasefire with Iran is on “life support”.

On Monday, Trump said he would suspend the petrol tax, but did not specify an end date.

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“Yup, we’re going to take off the gas tax for a period of time, and when gas goes down, we’ll let it phase back in,” Trump told CBS News.

Trump later told reporters that he would waive the tax, which generates $2.5bn in funds used for US roadway infrastructure, “till it’s appropriate”.

The US administration hinted at the idea on Sunday, when US Energy Secretary Chris Wright told the NBC News programme Meet the Press that the White House was considering suspending the tax.

While the Republican president claimed he would waive the tax, that is not within the White House’s authority. Suspending a federal tax requires an act of the US Congress.

However, key Trump ally Senator Josh Hawley, a Republican from Missouri, said on the social media platform X that he would introduce legislation on Monday to do that.

In March, Senator Mark Kelly, a Democrat from Arizona, proposed suspending the tax until October.

“I anticipate it would pass, but there could be a procedural delay. It also suggests that President Trump doesn’t see a quick end to the reduced volumes and is trying to cushion the American consumer,” Rachel Ziemba, adjunct senior fellow at the Center for a New American Security, told Al Jazeera.

“The impact could be greater in states that have also reduced their own petrol taxes and could reinforce differentiation between petrol prices by region.”

US states also tax petrol, with Indiana, Kentucky and Georgia moving to make cuts to give consumers some relief at the pump.

Petrol prices have continued to climb since the initial strikes of the US-Israel war on Iran on February 28. The average price for a gallon (3.78 litres) of regular petrol is $4.52, according to the American Automobile Association, which tracks daily petrol prices, compared with $2.98 when the strikes first began.

However, news of the stumbling ceasefire has sent oil prices surging. Brent crude futures were up $3.17, or 3.13 percent, at $104.46 a barrel, while US West Texas Intermediate crude was at $98.32 a barrel, up $2.90, or 3.04 percent. Brent reached a session high of $105.99 and WTI hit a peak of $100.37.

On Wall Street, stocks for oil and gas giants are trending upward. Shell was up 1.6 percent in midday trading, Exxon rose 3.1 percent, BP gained 2 percent, and Chevron climbed 1.7 percent.

Airline bailout?

Trump was also asked by CBS on Monday whether a bailout was planned for the airline industry, which has taken a hit since the war on Iran began.

The president told the outlet that a bailout had not “really been presented” and that “the airlines are doing not badly”.

However, earlier this month, budget carrier Spirit Airlines ceased operations after 34 years. Court documents said the airline shut down because of “recent geopolitical events resulting in a massive and sustained increase in fuel prices”.

That comes as other major US carriers raise prices. In April, United Airlines said it would raise fares by 20 percent amid a surge in jet fuel costs.

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Key new jet fuel supply update for travellers to Spain, Italy and France

An important update for family holiday plans

Holidaymakers planning trips to Mediterranean hotspots are being met with an enticing development as airlines grapple with concerns over possible jet fuel shortages this summer.

Ticket prices on major routes to destinations across Spain, Italy and France have tumbled by double digits – and in some instances drastically – as carriers attempt to entice hesitant travellers into making bookings. Costs have declined by 10% or more on 15 sought-after routes, including flights from Heathrow Airport to Nice, Manchester to Palma, and Gatwick Airport to Barcelona.

In the most striking case, fares between Milan and Madrid have nosedived by as much as 44%, according to analysis by the Financial Times.

The unexpected price cuts arrive as airlines wrestle with a decline in bookings, with numerous travellers postponing holiday arrangements amid warnings that jet fuel supplies could face disruption following tensions related to the closure of the Strait of Hormuz.

Industry insiders say consumers are holding fire, creating a high-stakes “confidence game” as airlines cut prices aggressively to fill seats before the peak summer holiday period.

One airline boss compared the present climate to the uncertainty experienced during the Covid pandemic, cautioning there remains “a lack of visibility” over how the situation will develop.

Analysis of fares between early April and early May reveals prices dropping on more than half of the busiest routes to southern Europe, particularly to seaside destinations around the Mediterranean. Significantly for families, the steepest reductions are being witnessed on traditional summer routes, with eight of the top 50 routes recording decreases of 20% or more. In contrast, only a small number of routes have experienced similarly sharp rises.

Travel industry insiders told the FT that holidaymakers were “freezing in the headlights”, resulting in them making reservations later than normal or opting for UK getaways instead.

READ MORE: UK officials issue 2026 Summer holiday fuel shortage update for families

Research indicates one in five Britons has already switched an overseas holiday for a domestic break this year, with another fifth contemplating doing likewise.

Airlines are now being compelled to boost demand through reduced fares even as fuel expenses climb and timetables are scaled back. Approximately two million seats have already been removed globally from May timetables, reflecting both elevated costs and weaker demand.

Low-cost carriers including easyJet and Wizz Air have acknowledged that passengers are making bookings later, while also seeking to reassure travellers.

EasyJet has committed not to impose fuel surcharges on existing package reservations, while British Airways has guaranteed prices will not increase after holidays are settled.

Despite the unpredictability, industry insiders emphasise the overwhelming majority of flights are still anticipated to run. Even in a worst-case scenario, only approximately 5% to 15% of flights could be axed and passengers would probably be transferred onto alternative services.

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British Airways warns ticket prices will SOAR to cover £1.7billion fuel bill

British Airways aircraft at Gatwick Airport.
epa11846878 British Airways aircraft at Gatwick Airport in London, Britain, 23 January 2025. The British government is considering airport expansions in London. Plans for a third runway at Heathrow and a second runway at Gatwick are under review by the Treasury in an effort to boost growth. Transport Secretary Heidi Alexander has a deadline of 27 February to decide whether to permit Gatwick to bring its existing emergency northern runway into routine use. EPA/ANDY RAIN Credit: EPA

BRITISH Airways passengers face higher fares after its parent company warned rising oil prices will add about £1.72billion to its fuel bill this year.

International Airlines Group (IAG), which also owns Iberia and Aer Lingus, said it expects to pass on part of the extra cost through ticket prices, with business class and other premium long-haul passengers among those most likely to be affected.

British Airway Planes Ahead Of International Consolidated Airlines Group SA Results
IAG warned the crisis could deepen if the strait remains blocked, with global jet fuel supplies potentially restricted Credit: Getty

Chief executive Luis Gallego said airlines need to increase fares to help offset fuel costs, which make up about a quarter of their spending.

The rise follows disruption linked to the Middle East conflict and the closure of the Strait of Hormuz, which normally carries about a fifth of the world’s oil and gas shipments.

IAG warned the crisis could deepen if the strait remains blocked, with global jet fuel supplies potentially restricted.

However, the group said it does not expect any disruption to summer fuel supplies.

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Mr Gallego said there is less jet fuel coming from the Middle East, but there are “other places with record supply” such as the US.

He said IAG has been “planning for situations like this for many years”, and has invested in its own jet fuel supply at its “main hubs”.

The company recorded a pre-tax profit of £365million during the three months to the end of March.

That was a 76.6% increase from £207million a year earlier.

The group now expects its annual fuel bill to reach £7.78billion.

Mr Gallego attributed the firm’s “strong first quarter” to “continued strong demand for our networks and airline brands”.

He added: “IAG is uniquely positioned to navigate the current headwinds created by the Middle East conflict thanks to our leading positions across diverse markets, strong brands, structurally high margins and strong balance sheet, as well as a strong track record of execution.”

IAG said about 3% of its capacity was “exposed to the Gulf region” at the start of the war on February 28, mostly with British Airways flights.

A large part of this has been redeployed, including boosting capacity at destinations where there are now fewer flights by Middle East carriers such as Bangkok, Singapore and the Maldives.

British Airways has also announced additional flights this summer on routes with higher demand for direct flights, such as India and Nairobi.

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Airlines could switch to US jet fuel to ‘ease some pressure’ amid shortage fears

The International Air Transport Association (Iata) has urged its European members to consider switching to US-made jet fuel amid rising concerns over possible shortages caused by the Iran oil crisis

European airlines should contemplate switching to US-manufactured jet fuel amid mounting worries over shortages triggered by the Iran oil crisis, a trade body has warned. The International Air Transport Association (IATA), which represents carriers, said its European members could “ease some pressure” by altering the type of fuel they use.

Commercial aviation mainly depends on two fuel grades: Jet A-1, which is utilised across most of the world, and Jet A, which is chiefly used in North America. They are comparable, with the principal distinction being that Jet A-1 has a lower maximum freezing point, offering greater versatility on long-haul and polar routes.

Jet A is predominantly manufactured outside the Gulf, from where fuel supplies are restricted by Iran’s limitations on tankers passing through the Strait of Hormuz. IATA’s director of flight and technical operations, Stuart Fox, stated in a blog that using Jet A “could give airlines facing a possible shortfall in fuel supply more options”.

He proposed this could “help the industry make better use of the fuel we have” and “keep schedules intact”. He continued: “Fuel supply could come under pressure if the war in the Middle East continues.

“Using Jet A, which is produced at scale outside the Gulf, could be a practical way to help ease some pressure on existing supply chains.

“This would have to be done through a controlled transition from one approved fuel grade to another. In normal times, that flexibility might not be noticeable. But in today’s circumstances it’s critical to keeping the whole system moving.”

Mr Fox noted that airlines looking to switch from Jet A-1 to Jet A would need to implement crucial safety precautions, including accounting for the higher freezing point and ensuring crew members are fully briefed on which fuel is on board.

On Friday, British Airways’ parent company International Airlines Group cautioned that its profits would take a hit, anticipating spending approximately two billion euro (£1.72 billion) more than budgeted on fuel this year. Chief executive Luis Gallego stated that he does not believe the group will experience “any interruption for the summer” with regard to fuel supply.

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Major airline owner warns of ‘global jet fuel restrictions’ if Iran war continues

JET fuel restrictions could hit airlines on a global scale, a major airline owner has warned.

International Airlines Group (IAG), who owns British Airways, Iberia and Aer Lingus, initially said that most of its airlines will unaffected this summer.

British Airways passenger aircraft at London Heathrow Airport.
IAG, who owns airlines like British Airways, has warned of restrictions if the war continues Credit: AFP or licensors

However, they warned that if the crisis continues, shortages will result in restrictions across the globe.

They said: “If the current conflict continues to restrict flows of both crude oil and jet fuel from the Middle East, there is the potential for supplies of jet fuel to be restricted on a global basis.

“We are engaging with governments in each of our home markets as well as with the EU to ensure that the industry is getting the support it needs to navigate this situation.”

IAG has said they expect their profit to be lower than anticipated. It also expects spend more than £1.72billion extra on fuel costs that previously predicted.

Read more on flight crisis

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All of the airlines that have been forced to close this year


FUEL FEAR

All the airlines that have cancelled flights amid jet fuel shortage holiday fears

The closure of the Strait of Hormuz since March has resulted in fears of fuel shortages, and caused airlines to start hiking prices.

Some airlines, such as Lufthansa, Scandinavian Airlines and Cathay Pacific, have already reduced their flights scheduled for the upcoming months in an attempt to avoid cancellations caused by shortages.

Other airlines like Air France and Virgin Atlantic have already increased the cost of flights.

Despite the warnings, UK airlines have said they are not expecting to be affected by cancellations this summer.

Tour operators including Jet2 and TUI have said they are operating a full schedule as planned.

And IAG said that 70 per cent of the company has hedged fuel for the rest of 2026.

Here are all the airlines that have cancelled flights due to the jet fuel crisis.

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ABTA gives May half term update after flights cancelled in fuel crisis

The Department for Transport has also given its latest advice

People from the UK heading abroad for the Spring Bank Holiday are being given the latest advice on holidays amid growing fears over jet fuel shortages and flight disruption. Travel experts say flights are continuing to operate “as planned” despite airlines across Europe drawing up contingency measures following soaring fuel prices linked to conflict in the Middle East.

Concerns have grown after reports that some airlines are preparing for possible refuelling stops on long-haul routes if shortages worsen. German airline Lufthansa has reportedly already begun contingency planning after one of its flights was forced to divert for fuel during a recent journey to South Africa.

The airline has also cut thousands of flights from its wider summer schedule as fuel costs continue to rise. However, travel industry figures insist UK holidaymakers should not panic.

Mark Tanzer, Chief Executive of ABTA – The Travel Association, said: “We really don’t want people worrying about their holidays; planes are taking off daily and people are continuing to get away on their holidays. The Government and airlines are clear that there isn’t a problem with fuel supply.

“If you have a holiday booked in for the coming months – including the May half term – we expect it to go ahead as planned.”

He added: “Whilst there have been reports about cancellations globally, these amount to less than one per cent of overall flights.”

According to aviation analytics firm Cirium, around 13,000 flights worldwide have reportedly been cut during May. Munich and Istanbul are believed to be among the worst-affected destinations.

The Department for Transport has also said there is currently “no need” for travellers to change their plans. Officials say UK airlines buy fuel in advance and airports continue to maintain reserves to help prevent disruption.

Passengers are still being advised to check flight updates with airlines before travelling and ensure they have suitable travel insurance in place. Some 120 flights from the UK this month have been cancelled, new figures show, as jet fuel prices surge and fears of shortages grow.

Cirium said airlines have axed 120 of the 22,613 departures initially scheduled from UK airports in May, equivalent to 0.53%. The number of outbound flights planned for June is 36 lower than a week ago. This represents a 0.2% reduction and means capacity for the month has fallen by 7,972 seats.

The final week of May is a peak period for holidays as it is half-time at many schools. For all flights globally, some 13,005 planned for May were cancelled between April 10 and April 21, equivalent to 1.5%. That reduced capacity by almost two million seats.

Julia Lo Bue-Said, chief executive of Advantage Travel Partnership, a network of independent travel agents, said airlines are “assessing poor performance flights and consolidating or cancelling as required”.

She added that UK departures to popular summer hotspots “remain unaffected” and insisted “customers can continue to book with confidence”. Paul Charles, founder of travel consultancy The PC Agency, said: “Airlines are now being forced to cut flights and make difficult decisions ahead of the peak season.

“It is better for them to cancel flights well in advance so that passengers are less inconvenienced than a last-minute change of plan. As the Iran conflict continues, there will need to be many more cancellations as the jet fuel supply is squeezed.”

Lufthansa’s airline group announced in April it would cancel 20,000 flights over the following six months to save fuel. Iran continues to have a stranglehold on tankers passing through the Strait of Hormuz, leading to a surge in oil prices and concerns of jet fuel shortages.

But on Sunday, Transport Secretary Heidi Alexander said summer holiday plans will not face major disruption because of the latter. She revealed that more fuel has been imported from America, while refineries have upped their production.

The Government has also introduced a temporary rule change allowing airlines to group passengers from different flights together on to fewer planes to save fuel.

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Airline boss warns fuel crisis is WORSE than Covid as costs triple in just months

A MAJOR airline boss has said that the ongoing fuel crisis is causing more problems than Covid did.

AirAsia chief executive Tony Fernandes said the quick increase in jet fuel overnight was “much worse”.

AirAsia CEO Tony Fernandes speaking at a podium with an Airbus A220 aircraft in the background.
AirAsia’s Tony Fernandes said the increase of fuel was worst than Covid Credit: Shutterstock Editorial

He told the FT: “I thought I’d seen it all with Covid but having seen jet fuel go up almost three times – this is much worse.

“You wake up one day and your major cost has tripled – it was quite a new experience for me and I’ve been through a lot in my life.”

This was backed by the Chancellor of Germany earlier this year who said if it continues, it would affect the European economy as “heavy as we recently experienced during the Covid pandemic”.

The closure of the Strait of Hormuz since March has already caused problems for airlines, due to shortages of fuel.

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All the airlines that have cancelled flights amid jet fuel shortage holiday fears


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Airlines have been forced to cancel thousands of seats, with European airlines such as Lufthansa and Scandinavian Airlines already scrapping routes this month.

Globally, major airlines such as United, Cathay Pacific and Emirates have all reduced capacity as well.

Data from Cirium estimated that there were two million fewer seats on sale in May compared to predicted.

American budget airline Spirit Airlines was even forced into administration, citing the higher jet fuel costs as a major cause.

Thankfully, UK airlines are yet to be massively affected, with most tour operators confirming that holidays are still going ahead as planned.

The only disruption is to the Middle East with destinations like Dubai still on the travel ban list.

On The Beach has even launched a new initiative for travellers this summer, where, if their flight is cancelled, they will get a refund on the same day.

Four yellow Spirit Airlines jets sit on the tarmac at Fort Lauderdale–Hollywood International Airport.
Budget airline Spirit was forced to close, citing fuel costs Credit: EPA

However, Ryanair boss Michael O’Leary warned that unless fuel prices dropping, airlines are at risk of failing this summer.

According to Politico, he said: “If pricing stays higher for longer this summer, we think a number of our airline competitors in Europe are going to face real financial difficulties. I think there will be failures.”

To protect passengers from last minute travel chaos, the Department for Transport has also revealed new measures which will allow airlines to cancel flights up to two weeks in advance, without losing their airport slots.

Transport Secretary Heidi Alexander said it would “give families long-term certainty and avoid unnecessary disruption at the departure gate this summer.”

But Which? Travel Editor Rory Boland warned: “Many passengers will understand that disruptions can occur and may be happy to travel a few hours or a day later.

“But for those on short trips or connecting flights it could mean the trip is no longer worthwhile.”

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Rising Fuel costs overshadowing agenda for ASEAN summit in the Philippines | ASEAN

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ASEAN leaders have begun meeting in the Philippines as residents near the summit venue say their main concerns are soaring fuel prices and living costs. The regional bloc enters what officials describe as a “stress test decade”, facing issues stemming from the Iran conflict since so many member states are heavily reliant on energy from the Gulf.

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Lufthansa posts record revenue but warns Iran war fuel costs will hit annual profit

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The surge in jet fuel prices has become a primary concern for the European travel industry, with Lufthansa finding itself at the centre of this crisis.


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According to Lufthansa’s latest earnings report, the airline expects an additional €1.7 billion ($2bn) fuel cost burden in 2026 as soaring jet fuel prices continue to weigh on the industry.

The need to avoid certain airspaces has led to longer flight times, which naturally increases consumption. These adjusted routes also require more staff hours and higher maintenance cycles, adding layers of complexity to an already strained global supply chain.

As reported by Euronews, global airlines have already cancelled approximately 13,000 flights this May, while Lufthansa alone has axed 20,000 short-haul flights through to October in a bid to cut fuel consumption.

This reduction in capacity is a direct response to the unsustainable cost of operating older, less fuel-efficient aircraft during price peaks.

While Lufthansa has managed to stay profitable, the jet fuel price spikes have forced the firm to advise passengers to book their holidays as early as possible to avoid further surcharges.

The company is currently investing heavily in its “fleet modernisation” programme to mitigate these risks in the long term, though the immediate impact of fuel volatility continues to weigh on the balance sheet.

Lufthansa remains committed to its financial targets, but the volatility of the global oil market remains the largest variable in its 2026 outlook.

“We are satisfied with the first quarter […] at the same time, the current situation compels us to rigorously examine every lever available to reduce costs, improve efficiency and mitigate risks in order to maintain our ability to act decisively. Our annual profit will likely be lower than originally anticipated,” CFO Till Streichert stated.

The Lufthansa Group has announced a landmark financial performance, revealing that it generated the highest revenue in its history in 2025. Revenue rose by 5% compared with the previous year to €39.6 billion.

According to the latest figures, the airline group also saw its operating profit grow by 20% compared with 2024, highlighting a robust recovery in passenger demand.

In the first quarter of 2026, year-on-year revenue climbed 8% despite challenges linked to the conflict involving Iran, including €1.7 billion in additional costs caused by volatile jet fuel prices and the suspension of dozens of routes.

The firm kept its capacity broadly stable with slight growth in long-haul traffic compensating for capacity reductions in short and medium-haul segments.

Lufthansa Technik and Lufthansa Cargo also significantly contributed to earnings with demand for maintenance, repair and overhaul services increasing, as well as through the marketing of ITA Airways’ cargo space.

Global demand for air travel remains high and continues to prove resilient even in times of crisis, as Lufthansa Group again expects a strong summer travel season.

“In the first quarter, we significantly improved on the previous year’s financial results […] but the ongoing crisis in the Middle East, combined with rising fuel costs and operational constraints, poses enormous challenges for the world as a whole, for global air travel and for our company as well,” CEO Carsten Spohr stated.

“However, we are resilient in our ability to absorb these impacts. This applies both to our above-average hedging against fuel price fluctuations and to our multi-hub, multi-airline strategy, which provides us with greater flexibility in our route network and fleet development,” Spohr added.

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New ‘contingency’ plan to ‘conserve jet fuel’ could mean changes to 2026 flights

The UK Government has relaxed a rule for airlines which could see some summer flights dropped to save jet fuel

Travellers could find their UK flights rescheduled as the Government relaxes a particular rule that airlines rarely risk breaking. Holiday-makers should be aware that their plans may be changed to avoid journeys that would result in “wasted fuel”.

Transport Department officials say airlines may consider scrapping certain services following the introduction of a temporary rule change that allows carriers to merge flights and combine passengers. The idea is meant to cut the total number of aircraft departing, aiming to preserve jet fuel and provide holidaymakers with reassurance that trips won’t be cancelled altogether.

Rather than axing flights at short notice, the idea is to “reduce wasted fuel from flying near-empty planes”. To maximise the use of airport departures, airlines would reassess their schedules and could transfer passengers from under-booked services that haven’t sold a decent proportion of seats onto similar flights.

The Government claims these “contingency preparations” are meant to “give families greater confidence when travelling this summer”. While airlines have always been able to cancel and rebook flights, doing so typically came with a future risk to their business, reports the Express.

Addressing the update, Transport Secretary Heidi Alexander said: “Since the closure of the Strait of Hormuz, the government has been monitoring jet fuel supplies daily and working with airlines, airports and fuel suppliers to stay ahead of any problems. There are no immediate supply issues, but we’re preparing now to give families long-term certainty and avoid unnecessary disruption at the departure gate this summer.

“This legislation will give airlines the tools to adjust flights in good time if they need to, which helps protect passengers and businesses. We will do everything we can to insulate our country from the impact of the situation in the Middle East.”

The measures being considered by the government go further by enabling airlines to plan ahead and act on the most reliable information available on fuel supply or the wider ramifications of the Middle East conflict, rather than waiting for shortages to materialise. The government remains engaged in planning for various contingencies to boost flexibility around jet fuel supply, and domestic jet fuel production has risen. The UK sources jet fuel from multiple countries that don’t rely on the Strait, including the United States.

Explaining how flight consolidation works, TikTok user and travel specialist Kate Donnelly (@Thedonnellyedit) said: “If an airline has four flights operating to the same destination across a day, they might look at them and see two are half empty, so they might combine them and cancel one of those flights altogether. This would mean they are obviously saving on the amount of jet fuel they are using and overall cost.”

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If a flight experiences a significant delay, passengers are entitled to care and assistance, including food, drink and overnight accommodation where necessary. Generally, delays that warrant this include at least two hours for short-haul, three hours for medium-haul and four hours for long-haul.

Rob Bishton, chief executive of the UK Civil Aviation Authority, said: “Passengers in the UK are well protected by some of the strongest rights in the world, offering reassurance if disruption does occur. Airlines have a duty to look after their passengers when they face disruption, and should offer a choice between a refund or alternative travel arrangements, including with another airline, if a flight is cancelled.

“Relaxing the rules around slots at airports will allow airlines more flexibility and so we expect them to give passengers as much notice as possible of cancellations during this period.”

If the airline cancels your flight, you’re legally entitled to a choice between being rerouted or receiving a refund. Find out more about your rights following a flight cancellation here.

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Buses block off roads in Bolivia as transport workers strike over fuel | Labour Rights

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Public workers blocked the streets of El Alto, Bolivia with buses, cars, and trucks during a national transportation strike. Union leaders are demanding the government guarantee clean fuel, end long lines at petrol stations, repair roads, and compensate drivers for repeated engine repairs.

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Broken Spirit: Jet Fuel Surge, Iran War Rattle Airlines

Amid Spirit Airlines’ bankruptcy, airlines that were once confident in their financial resilience are now navigating a volatile geopolitical landscape.

The collapse of Spirit Airlines, the scrappy low-cost carrier, underscores the fragile economics of air travel amid $4-per-gallon jet fuel and high crude prices.

From Atlanta-based Delta Air Lines to Hong Kong-based Cathay Pacific, carriers are reassessing routes and fares as soaring fuel costs threaten profits, while the Iran war disrupts shipping through the Strait of Hormuz.

Airlines and investors had anticipated stable fuel costs in the second quarter, but analysts have had to adjust their outlooks. Forward-looking projections indicate fuel prices will remain above previous forecasts, a development that could continue to pressure airline profit margins and ticket pricing strategies.

“Fuel forward expectations for the second quarter haven’t changed, but what has changed are expectations for the rest of the year,” Matt Woodruff, head of aerospace and defense/transports at CreditSights, told Global Finance. “[Fuel prices] will be higher for longer than we were thinking a month or two ago.”

‘Good Aircraft’ Grounded

On April 23, former President Donald Trump publicly mused about rescuing Spirit Airlines, calling the carrier “virtually debt-free” and noting its “good aircraft, good assets.” He suggested buying the airline and potentially profiting when oil prices decline, adding, “I’d love to be able to save those jobs … I like having a lot of airlines, so it’s competitive.”

The plan never materialized, and Spirit shut down on May 3. Travelers remained stranded as jet fuel prices hit unprecedented highs amid the Iran war, now more than two months old.

“We regret to inform you that all Spirit Airlines flights have been canceled, effective immediately,” read a notice when opening the carrier’s app.

The ripple effects were felt beyond Dania Beach, Florida, where the airline is based. Spirit operated international flights throughout Latin America, the Caribbean, and Central America, including Colombia, Mexico, the Dominican Republic, Jamaica, Peru, Costa Rica, and Aruba. Its sudden closure left 17,000 direct and indirect employees without work.

The Trump administration and Treasury Secretary Scott Bessent quickly blamed Biden-era opposition to the much-debated Spirit/JetBlue Airways Corp. merger. The two carriers had a $3.8 billion deal in the works, which Bessent argued “would have given them much more resiliency.” Spirit filed for bankruptcy protection in November 2024, saddled with more than $2.5 billion in losses since 2020.

But no airline, not even one with low-cost appeal, is immune to the whims of the global oil market.

At the time of Spirit’s first bankruptcy under Biden, U.S. airlines were paying an average of $2.31 per gallon for jet fuel. Under Trump, that figure has nearly doubled, with the Argus US Jet Fuel Index reporting $4.26 per gallon as of May 4.

Consider the Warnings

Brent crude prices are hovering above $100 per barrel, while regional conflicts near the Strait of Hormuz—through which a significant share of the world’s oil passes—continue to heighten supply concerns.

Fuel is often the largest single operating expense for airlines. Delta Air Lines, for example, disclosed in a March filing that its 2025 fuel costs accounted for 31.3% of its operating expenses. The company noted that a one-cent increase in jet fuel adds about $40 million to its fuel tab for the year.

Delta paid $2.7 billion for fuel in the first quarter of 2026.

The airline produces some of its own jet fuel, which means it avoids paying full market prices for fuel conversion, shielding it from the worst of the “crack spread” costs, Woodruff said. “They’re getting a benefit relative to everyone else, but they’re still feeling it.”

Cuts are underway. Starting May 19, the company will no longer offer food or drinks on flights under 349 miles.

Other carriers are responding to the latest volatility by raising fares, canceling routes, rerouting aircraft to avoid restricted airspace, and reconsidering expansion plans. Airfares have increased five times since the war in Iran began, with a sixth hike underway late last month, according to the Wall Street Journal.

“The routes that aren’t doing well, those are going first,” Woodruff said. “Regional jets, for example, often don’t make much money — those are, for sure, a target.”

What’s Next

Spirit isn’t the only airline feeling the effects of this new norm. Its former suitor, JetBlue, is reevaluating routes that may no longer cover rising fuel, airport, and maintenance costs. Delta is canceling hundreds of flights, while international carriers — including Paris-based Air France, Cologne-based Lufthansa, and Cathay Pacific — are trimming routes to protect margins.

This shift stands in stark contrast to late 2024, when Delta CEO Ed Bastian welcomed the incoming Trump administration as a “breath of fresh air.” Through much of 2025, that optimism seemed justified, as major U.S. carriers forecast continued profitability into 2026.

And that might still be the case despite the war in Iran rattling global energy markets and upending long-held assumptions about fuel stability and travel demand.

Each airline is now telling a two-sided story about how robust demand is while also raising fares. United Airlines’ fare numbers, for example, will be 15% to 20% higher than last year. 

Whether consumers will tolerate such a price hike remains to be seen. “Ultimately, consumers are going to decide what they are willing to pay and what they aren’t, not a formula,” Southwest CEO Bob Jordan told reporters in April.

Chevron CEO Mike Wirth echoed the concern, telling CBS’s Face the Nation on April 23 that instability in the Strait of Hormuz was likely to continue driving up energy costs.

Even the forward fuel curves today indicate that, even if the war ended today, costs wouldn’t normalize until well into next year, Woodruff said.

By 2027, airlines expect to offset most, if not all, of the recent fuel cost increases through higher fares, he added. But that outlook assumes forward fuel prices in the first quarter of 2027 will be lower than they are today. If they’re not, carriers could continue to face significant financial pressure.

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Families must ‘pay for plane seats’ or face being split as fuel crisis threatens holidays

As airlines have been granted a green light to consolidate or cancel flights with just two weeks’ notice, experts have warned of inevitable chaos this peak holiday season

Summer is well and truly in the air, but Brits looking ahead to their well-deserved week in the sun have been warned to take extra caution.

As the price of jet fuel has risen by 120 per cent since the start of the conflict in the Middle East, there are concerns of shortages in the coming months. Airlines have already hiked ticket prices, but further disruption is expected unless the Strait of Hormuz reopens soon.

Before the conflict, Europe as a whole had about 37 days’ supply of available. Now, this is likely to have dropped to 30 days, with the International Energy Agency (IEA) warning that 23 days is the critical point at which some airports would run out of fuel.

Now after airlines were granted a green light to consolidate or cancel flights with just two weeks’ notice, experts have warned that the traditional protections for those with additional needs are under threat. Crucially, the European Commission has signalled that disruptions caused by the ongoing Middle East fuel crisis will be filed under “exceptional circumstances,” meaning holidaymakers may be unable to claim any financial compensation if their flights are changed.

READ MORE: RAC issues ‘ominous’ UK petrol and diesel price warning for May 2026

Travel expert Declan Somers, CEO of Mobal, warns that the biggest risk this summer isn’t just chaos at airports, but how passengers might be split. As airlines merge flights to conserve fuel, families who booked together may find themselves rebooked onto replacement aircraft where they are scattered across the cabin.

Notably, there is no UK law that requires children to be seated with their parents on a plane. Airlines can legally separate even those under five from their parents, although this would be against Civil Aviation Authority (CAA) guidelines. The CAA says: ‘Young children and infants who are accompanied by adults should ideally be seated in the same seat row as the adult. Where this is not possible, children should be separated by no more than one seat row from accompanying adults. This is because the speed of an emergency evacuation may be affected by adults trying to reach their children.” “

If airlines start consolidating flights, a family of four ‘may be rebooked onto the same replacement flight but not necessarily seated together,” Somers cautioned.

While UK guidance suggests airlines should aim to seat children near parents, there is no absolute guarantee. To mitigate this, Somers urges parents not to treat seat selection as optional: “Book directly with the airline, pay for seat selection, and call immediately to have assistance notes attached to the PNR (Passenger Name Record).”

The situation is even more precarious for those with disabilities or complex medical requirements. Travel expert Alexandra Dubakova warns that emergency rebookings often fail to account for specialised needs, such as extra legroom for mobility or specific seating for medical equipment. “There might be cases of passengers being de-boarded or rebooked again because the replacement aircraft lacks the specific configurations they originally paid for,” Dubakova explained.

She warns of a significant “erosion of consumer rights,” noting that under “exceptional circumstances,” airlines are under less financial pressure to provide their usual level of care. For those requiring special assistance – such as storage for crutches or priority boarding – Scope guidance mandates booking at least 48 hours in advance. However, with last-minute aircraft swaps expected, these pre-arranged protections are no longer a certainty.

The disruption is expected to hit hardest at smaller regional airports, which lack the on-site fuel storage of major hubs like Heathrow. Dubakova describes these smaller airports as the “canary” in the coal mine. For families and disabled travelers, the advice is to “build in a buffer.”

Experts suggest choosing the first flight of the day, flying from larger hubs where possible, and ensuring all medication is planned at least four weeks in advance. UK airlines have previously insisted that they are not currently facing supply issues, while the Government will also work with the sector to act quickly if needed.

Europe’s leading budget airlines remain confident they will be able to keep flights running as usual throughout the peak holiday season ahead. Jet2, easyJet and TUI have all committed not to impose any additional charges on passengers due to fuel price increases.

Transport Secretary Heidi Alexander said: “There are no immediate supply issues, but we’re preparing now to give families long-term certainty and avoid unnecessary disruption at the departure gate this summer. This legislation will give airlines the tools to adjust flights in good time if they need to, which helps protect passengers and businesses. We will do everything we can to insulate our country from the impact of the situation in the Middle East.”

It’s understood that British Airlines would not allow to children sit alone away from their parent, with the team pre-seating families on the same Passenger Name Record (PNR) to ensure all those under 12 years old are seated with at least one adult on the same record. As per the BA website: “If you don’t choose your seats in advance, we always do our best to seat your family together based on flight seat availability. This may mean that you’ll be seated in adjacent rows or across the aisle. All children under 12 will be seated with an accompanying adult.” Tui and Virgin Atlantic also offer similar reassurances on their websites.

Meanwhile, as per the Ryanair’s Family Seating Policy, detailed on the company website: “For family bookings, children (aged 2 to 11 years) receive free reserved seating so they can sit beside a parent. When an adult purchases a reserved seat they can select up to 4 children’s seats beside them free of charge. If an adult selects a reserved seat outside of specific rows (depending on aircraft) they must pay the price difference. Similarly, if a seat is selected for a child outside of these rows, they will be charged the full reserved seat price of these seats.”

The easyJet website warns families who leave check in until the last minute may not be guaranteed sears next to each other, however, staff will “still make sure each child under 12 is seated close to an adult on your booking” An easyJet spokesperson told the Mirror: “easyJet is not seeing any disruption to fuel supply. We continue to operate our flights and package holidays as normal and are not making changes or cancellations. We remain in close contact with suppliers who continue to provide uninterrupted supply and are diversifying exporting from additional countries globally to bolster supplies going forward.”

Kenton Jarvis, CEO of easyJet, said: “I want our customers to book with confidence this summer. We are operating as normal and are not making changes or cancellations and we are looking forward to taking millions of people on their well-deserved holidays this summer.”

Do you have a story to share? Email me at julia.banim@reachplc.com

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Warning UK is at dire risk of rationing jet fuel due to shortages caused by Iran war

The extended shutdown of the Strait of Hormuz has created what Goldman Sachs describes as “extreme tightness” in Europe’s jet fuel supply, and the UK is seen as particularly vulnerable

Britain is at risk of rationing jet fuel due to shortages stemming from the Iran conflict, an expert has claimed.

With supplies potentially dropping to “critically low levels”, concern has grown for Europe’s jet fuel market and the consequences this will have on travel this summer. Some airlines, such as KLM and Lufthansa, have already cancelled flights due to fears about fuel.

Now, Goldman Sachs, one of the world’s largest investment banks, has said the ongoing closure of the Strait of Hormuz has created “extreme tightness” in the market and the UK is especially exposed due to its limited stockpiles, heavy reliance on imports, and constrained refining capacity. It means the prospect of rationing is believed to being considered to help sustain the travel sector.

Jet fuel prices have doubled since the war began on February 28, prompting bleak warnings from Keir Starmer that travellers may need to rethink their holiday plans.

READ MORE: British Airways, Ryanair, easyJet and Jet2 issue fuel warning amid Middle East warREAD MORE: Soaring petrol prices to have ‘huge consequences for teachers and schools’

Goldman Sachs said in a research note: “The UK is the largest net importer of jet fuel in Europe, and it holds no strategic reserves, leaving commercial inventories as the primary buffer. As a result, inventories in some countries, especially the UK, could fall to critically low levels, increasing the likelihood of rationing measures.”

The Gulf region supplies around one-fifth of globally traded fuel, and with Europe heavily dependent on those flows, airlines are now competing for alternative sources — driving prices even higher. According to The Times, Goldman Sachs noted that the UK, as Europe’s largest net importer of jet fuel, lacks strategic reserves and relies primarily on commercial inventories as a buffer. Those levels, particularly in Britain, could fall dangerously low, increasing the likelihood of rationing.

Any sustained shortage would likely force airlines to cancel or consolidate flights while pushing ticket prices upward. Fuel accounts for as much as a quarter of airline operating costs. IAG, the parent company of British Airways, has already indicated it will raise fares to offset higher fuel expenses, acknowledging it is “not immune” to ongoing volatility despite hedging strategies.

Air France expects its jet fuel bill to rise by $2.4billion (£1.77million) this year, while American Airlines anticipates an increase of more than $4billion (£2.96million) — costs that are expected to translate into higher fares and reduced perks for passengers.

Although UK ministers have suggested supplies can be sourced from elsewhere, industry figures are less optimistic. Ryanair chief Michael O’Leary said airlines are “desperately” looking for flights to cancel and could begin doing so within weeks.

Fuel suppliers have also warned that the UK has the “most limited visibility” in Europe when it comes to jet fuel supply, largely because of its dependence on Middle Eastern imports.

The European Commission said it would issue guidance to airlines this week, with a spokesperson noting that uncertainty remains high and preparations are being made for multiple scenarios.

Analysts also pointed to the UK’s reduced refining capacity following the closure of the Grangemouth refinery — Scotland’s only oil refinery — last April. Concerns had also surrounded the future of the Prax Lindsey refinery in north Lincolnshire, though its new owner, Phillips 66, said the recent acquisition should help stabilise supply.

A report from the Tony Blair Institute argued that Europe’s climate-focused energy policies have contributed to higher prices — two to three times those of competitors — and increased dependence on imports.

Fuel suppliers said May demand should remain manageable but warned that disruptions could begin by mid-to-late June if the Strait of Hormuz remains closed.

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Brits face more cancelled flights this summer in new airline rules due to fuel crisis fears

NEW rules will now allow airlines in the UK to axe flights without repercussions this summer due to ongoing fears of a jet fuel crisis.

The Department for Transport has unveiled new measures which will allow airlines to cancel flights up to two weeks in advance, without losing their airport slots.

Instead, airlines will be able to group passengers onto other flights that same day, and operate fewer routes a day.

Transport Secretary Heidi Alexander said it would “give families long-term certainty and avoid unnecessary disruption at the departure gate this summer

While this is said to be “protecting summer holidays” it could see passengers forced onto flights at completely different times that they had booked.

Which? Travel editor Rory Boland said: “It’s not fair for the rules to now be bent in favour of airlines and potentially leave passengers holding the bill.

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Jet2, Ryanair, easyJet, TUI, BA and Virgin – UK airlines on the fuel crisis

“Many passengers will understand that disruptions can occur and may be happy to travel a few hours or a day later, but for those on short trips or connecting flights it could mean the trip is no longer worthwhile.

“Before any changes are made, passengers need cast-iron assurances that their rights will not be weakened and that airlines cannot use reform as cover to shift the cost of disruption onto travellers.”

However, it has been backed by Airlines UK, which represents UK carriers, as they said it would “avoid unnecessary flying and continue operating as efficiently as possible while protecting connectivity for passengers and trade”.

While jet fuel shortages – caused by the closure of the Strait of Hormuz, are yet to massively effect UK airlines, many others around the world have ben formed to axe flights.

According to Cirium, two million seats have been scrapped across May, with airlines including Lufthansa, Air New Zealand and United just some affected.

Here’s what all the UK airlines are saying about cancelled flights and fuel surcharges.

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Ultra-rich are taking more private jet flights as fuel supplies run out

Normal flows of fossil fuels from the Gulf have effectively been at a standstill since the war broke out and the Strait of Hormuz was blockaded, leading to shortages and flight cancellations

Billionaires and the ultra-rich are taking more and more private jet flights despite a jet fuel crisis in commercial aviation.

While major airlines cancel tens of thousands of flights due to jet fuel issues caused by the Iran War, chartered and private aviation is booming, according to analysis shared with the Mirror.

“Aside from the Middle East, the global private jet industry has not been affected by rising fuel costs,” Nick Koscinski, analyst at WINGX Advance aviation data firm, told the Mirror. “In fact, global private jet flights are up 4.7% year-to-date through 19 April.”

In US cities that have been hit by Transportation Security Administration staff shortages amid a pay freeze, there have been much higher usage rises, with a 17% yearly increase in Washington, DC, and Houston.

Normal flows of fossil fuels from the Gulf have effectively been at a standstill since the war broke out and the Strait of Hormuz was blockaded. A fifth of the world’s oil and gas typically flows through the Strait.

Last week, global jet fuel shipments fell to the lowest recorded level. Just under 2.3m tonnes of jet fuel and kerosene were transported on ships in the seven days to 26 April, according to data company Kpler. The figure represents less than half the average weekly volume shipped before the war. Earlier this month, the International Energy Agency warned that Europe could run out of jet fuel in weeks.

WINGX Advance analysis notes that Jet A1 prices have approximately doubled since January, and they represent about 30% of variable operating costs for private jet operators.

“So this cost is significant. Our impression is that the cost increase has largely been passed through to end-users. As flight activity for private jets is up this year vs last year, clearly demand seems to be inelastic at least for now,” analyst Richard Koe added.

Flying in a private jet is one of the most fuel-intensive, emissions-spewing activities a human can engage in.

Overall, private aviation emissions increased by 46% between 2019 and 2023, with industry expectations of continued strong growth, according to a Nature journal Communications Earth & Environment study.

It also found that most of these small planes spew more heat-trapping carbon dioxide in about two hours of flying than the average person does in about a year.

In 2023, roughly a quarter million of the super wealthy, who were worth a total of $31 trillion, emitted 17.2 million tons (15.6 million metric tons) of carbon dioxide flying in private jets. That’s about the same amount as the overall yearly emissions of the 67 million people who live in Tanzania.

Stefan Gössling, a transportation researcher at the business school of Sweden’s Linnaeus University, said the issue wasn’t so much the emissions, which remain a small part of those produced globally, but the lack of fairness.

“The damage is done by those with a lot of money and the cost is borne by those with very little money,” Gössling said. A separate report by Oxfam claimed that billionaires emit more carbon pollution in 90 minutes than the average person does in a lifetime.

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South Korea air fuel surcharges nearly double

A Korean Air plane takes off from Incheon International Airport, west of Seoul, South Korea, 01 April 2026. Fuel surcharges for flights operated by South Korean airlines have surged by as much as threefold from the previous month in April due to the spike in global oil prices, industry watchers said. Photo by YONHAP / EPA

May 1 (Asia Today) — Fuel surcharges on airline tickets issued in South Korea nearly doubled Friday as carriers respond to a sharp rise in oil prices driven by escalating tensions in the Middle East.

The airline industry said tickets issued this month will be subject to the highest surcharge level, Stage 33, for the first time since the current system was introduced in 2016.

Korean Air set one-way international fuel surcharges from 75,000 won ($51) to 564,000 won ($383), up from 42,000 won ($29) to 303,000 won ($206) in April. The lowest charge applies to short-haul routes such as Fukuoka and Qingdao, while the highest applies to long-haul destinations including New York, Atlanta, Washington and Toronto.

Asiana Airlines set its international one-way surcharge at 85,400 won ($58) to 476,200 won ($323), nearly double April’s range of 43,900 won ($30) to 251,900 won ($171).

Jeju Air, a low-cost carrier, will charge $52 to $126 one way on international flights departing South Korea, compared with $29 to $68 last month.

The higher surcharges are still not enough to fully offset rising costs. Some low-cost carriers saw fuel expenses rise more than 120% from the previous month and 130% from a year earlier, while surcharge revenue covered only about half of the increase.

Airlines are responding by cutting less profitable routes. Asiana expanded planned reductions on some international routes from eight flights to 13, while Jin Air plans to cut 131 flights across 14 routes this month after canceling 45 flights on eight routes in April.

Air Premia plans to cut 22 flights in July, including eight on the Incheon-Da Nang route, six to Los Angeles and four each to San Francisco and Honolulu.

Korean Air has not announced route reductions but is closely monitoring market conditions.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260501010000007

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Spirit Airlines collapses amid rising fuel costs from war on Iran | Travel

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US budget carrier Spirit Airlines shuts down after talks for a government bailout failed, leaving 17,000 workers jobless and many passengers stranded. Rising fuel prices from the US-Israel war on Iran partially blamed for Spirit’s rapid decline.

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Spirit Airlines begins ‘wind-down’, cancels all flights over fuel crisis | Aviation News

The collapse of the US-based budget carrier due to a doubling in jet fuel prices will cost thousands of jobs.

Low-cost US carrier Spirit Airlines has said that all of its flights have been cancelled as it started an “orderly wind-down of operations,” after a potential White House bailout fell through.

“Spirit Aviation Holdings, Inc., parent company of Spirit Airlines … today regretfully announced that the Company has started an orderly wind-down of operations, effective immediately. All Spirit flights have been cancelled, and Spirit Guests should not go to the airport,” the airline said in a statement in the early hours of Saturday.

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Spirit had 4,119 domestic flights scheduled between May 1 and May 15, offering 809,638 seats, according to the latest data from Cirium.

The collapse of the carrier due to a doubling in jet fuel prices during the two-month-old Iran war will cost thousands of jobs. It is also a blow to US President Donald Trump, who had proposed $500m to save Spirit despite opposition from some of his closest advisers and many Republicans in Congress.

Spirit had reached a deal with its lenders that would have helped it emerge from its second bankruptcy by late spring or early summer. But those plans derailed after the US war on Iran triggered a spike in jet fuel prices, upending Spirit’s cost projections and complicating its bankruptcy exit.

A Spirit board meeting had ended without an agreement to rescue the company, a person close to the discussions told the Reuters news agency late on Friday.

“Unfortunately, despite the Company’s efforts, the recent material increase in oil prices and other pressures on the business have significantly impacted Spirit’s financial outlook,” Spirit said in a statement announcing its “orderly wind-down”.

Trump on Friday said the White House had given Spirit and its creditors a final rescue proposal, after talks hit an impasse over a $500m financing package that would have helped the airline keep operating through bankruptcy.

“If we can help them, we will, but we have to come first,” Trump told reporters. “If we could do it, we’d do it, but only if it’s a good deal.”

Spirit’s restructuring plan assumed jet fuel costs of about $2.24 a gallon in 2026 and $2.14 in 2027, but prices had climbed to about $4.51 a gallon by the end of April, leaving the carrier unable to survive without new financing.

Transportation Secretary Sean Duffy told Reuters he had tried to get many airlines to buy Spirit but found no takers. “What would someone buy?” Duffy asked. “If no one else wants to buy them, why would we buy them?”

A creditor close to the deal said, “The Trump administration made an extraordinary effort to try and save Spirit, but you can’t breathe life into a corpse. Given that, the company should make its intentions clear for the sake of its customers and employees.”

No US carrier of Spirit’s size – it accounted for 5 percent of US flights at one point – has liquidated in two decades. Spirit helped keep fares lower in markets where it competed against major carriers.

Its collapse shows how the Iran war’s fuel-price shock has exposed weaker airlines. Across the globe, airlines have been increasing prices to reflect the high cost of jet fuel and some airlines have also cut flights.

German airline Lufthansa last month said it cancelled 20,000 flights in a bid to protect itself from the soaring cost of oil.

On Friday, Indian carrier Air India also said it has increased fuel surcharges on all flights and said it will cut 100 flights a day across domestic and international routes.

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Ryanair, EasyJet, Jet2 and Wizz Air give Saturday update on summer flights amid fuel fears

Budget airlines have spoken amid warnings that the UK faces greater exposure to jet fuel shortages due to the Middle East conflict

Following warnings from a leading analyst over potential jet fuel shortages that could hit the UK during the summer, Europe’s biggest budget airlines have stated they remain confident in their ability to keep flights running as normal throughout the peak holiday season.

Ano Kuhanathan, head of corporate research at insurer Allianz, has warned that the closure of the Strait of Hormuz leaves Britain considerably more exposed than other European countries to supply disruptions. Roughly three quarters of Europe’s jet fuel comes from the Middle East and passes through the vital shipping lane.

He explained: “The UK is Europe’s most structurally exposed market to jet fuel shortages, relying heavily on imports to meet aviation demand and running persistent refining kerosene deficit, leaving it particularly vulnerable to supply shocks.”

Despite these concerns, senior figures at Britain’s top budget airlines have voiced confidence in their capacity to deliver a full flight schedule throughout the summer.

A spokesperson for Jet2 said: “We remain in continual dialogue with our fuel suppliers, as is standard practice. Based on the conversations we have been having, we see no reason not to look forward to operating our scheduled programme of flights and holidays as normal.”

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The announcement comes in the wake of a separate warning from Heathrow airport on Wednesday, which stated it anticipates passenger numbers for the remainder of the year to be impacted by the ongoing situation in the Middle East. Laura Lindsay, spokesperson for the price-comparison site Skyscanner, suggested that travel demand is changing rather than vanishing. She told The Independent’s daily travel podcast: “We know that people do still want to get away. It may be reduced internationally and increased domestically, for example.”

Jet2 has revealed that holidaymakers are increasingly making last-minute bookings since the outbreak of the Iran conflict amid growing concerns over the impact of the war and fears surrounding jet fuel supply.

The company said summer passenger bookings to date are up 6.2% thanks to expansion across its airline and package holiday operations, but in a sign of rising unease among travellers, it disclosed that the “booking profile has become increasingly close to departure” due to the Middle East conflict.

It stated it is well shielded from the fuel cost surge triggered by the Iran war for the crucial summer period, adding it is “maintaining frequent dialogue with our fuel suppliers and airport partners on fuel supply”.

Michael O’Leary, Ryanair’s chief executive, said that “the risk of ‌a supply disruption is receding”, with no disruption risk before the end of June. However, he pointed out that the UK faces greater vulnerability compared to other major nations. EasyJet has confirmed it intends to run “a full schedule across its network”. Garry Wilson, chief executive of easyJet Holidays, said: “Our operations remain unaffected, so customers can be confident that not only will their holiday go ahead as planned, but there will be no surprise extra payments.”

Yvonne Moynihan, managing director of Wizz Air UK, said: “We have just launched our biggest-ever network from the UK and in particular from Luton.

“Despite the challenging geopolitical crisis, business goes on as usual. In airlines, we are well used to crises, so we are resilient and we’re well adapted.

“For low-cost airlines like Wizz in the UK, we don’t see any shortage of fuel.”

The airline boss explained that if a shortage were to emerge in the UK, Wizz Air could source fuel from alternative countries – a tactic known as “tankering”.

“We can take more fuel than is required in those destinations,” she said. “We can even fly to other countries and and pit-stop, if you will, if we need additional fuel

“But we’re not seeing an Armageddon situation. We have fuel supply. We have other mechanisms for uplifting fuel.” Wizz Air is Europe’s third-largest budget airline, behind Ryanair and easyJet.

Jet2, easyJet and TUI have all committed to not imposing any additional charges on passengers for fuel price increases.

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