Business & Finance
Airfares Are Staying High Even as the Jet Fuel Crisis Fades
Key Points
Airfares Are Staying High Even as the Jet Fuel Crisis Fades A historic jet fuel crisis is now fading as prices fall globally, but US passengers are yet to see the benefit with airfares still elevated. The US-Iran war triggered a global jet fuel supply crunch that prompted carriers to cut flights and raise prices. The shock was so severe that it spelled the end of operations for US budget carrier Spirit Airlines and brought on warnings that Europe was just weeks away from a shortage of fuel.
Airfares Are Staying High Even as the Jet Fuel Crisis Fades
A historic jet fuel crisis is now fading as prices fall globally, but US passengers are yet to see the benefit with airfares still elevated.
The US-Iran war triggered a global jet fuel supply crunch that prompted carriers to cut flights and raise prices. The shock was so severe that it spelled the end of operations for US budget carrier Spirit Airlines and brought on warnings that Europe was just weeks away from a shortage of fuel.