Australia’s Qantas Airways, Scandinavia’s SAS, and Air New Zealand have announced fare increases due to a surge in jet fuel prices, which have jumped from around $85-$90 to between $150-$200 per barrel amid the US-Israel conflict with Iran. This situation has disrupted global travel, leading to potential flight cancellations and an uncertain outlook for the airline industry. While some airlines, like British Airways, remain unaffected due to fuel hedging, others are adjusting prices and schedules to cope with rising costs and airspace restrictions.
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