Air travel could become even more expensive in the coming months, CNBC reported this week, citing top aviation executives. The industry is facing rising jet fuel costs and post-pandemic financial problems.

A decline in US refining capacity resulting in more expensive jet fuel, and financial troubles for the airlines due to the pandemic were given as reasons for the potential price increases by the director general of the International Air Transport Association (IATA), William Walsh.

The US’ capacity to refine crude oil into fuel and other products fell to its lowest level since 2014 this year, according to the federal government’s annual refinery capacity report released in June, 2022.

The drop was attributed to refinery closures in the country due to various factors in recent years. In the USA, airline ticket prices shot up by 25% in the past year, the biggest annual jump since 1989, and have continued to climb higher this year.

Another factor driving up flight costs globally is the fallout from the conflict between Russia and Ukraine, Qatar Airways CEO Akbar Al Baker said, as quoted by CNBC.

Al Baker said the conflict will fuel inflation, putting more pressure on the supply chain, and also lead to instability in the price of oil. However, oil prices have declined 30% in 2022.

In recent months, airlines have had to use alternative routes to avoid flying over Ukraine and due to counter-sanctions, where Russia is now also blocking the west from using its airspace, according to travel portal

Flights from London to Delhi, for example, now have to make a detour, adding several extra hours of flight time and fuel. Flights on Hong Kong were completely cancelled.

UK’s flagship carrier, British Airways, has axed hundreds of summer flights up until September 2022 on some of its most popular routes, including to the USA and the Far East.

The sanctions against Russia seem to backfire, now that Moscow also closed its airspace for the ones blocking them from flying over Europe. The company has already canceled more than 1,000 flights in little more than three weeks.

Flights from London to Tokyo have been suspended for the rest of the summer 2022 season. There will be no flights to those destinations until September and October, respectively.

RT. com / ABC Flash-Point News 2022.

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24-09-22 14:06

In the USA, airline ticket prices shot up by 25% in the past year, the biggest annual jump since 1989, and have continued to climb higher this year. With the coming recession and lack of pilots this will combine to dramatically reduce those who travel by air but perhaps those local low cost lines will not be as affected.

24-09-22 14:07

Airline tickets going up due to the climate agenda, except for politicians who fly all over the world.

Reply to  Keb
24-09-22 14:09

Keb, check out geoengineeringwatch dot org and see that they have been polluting the skies for years and carbon dioxide is not the issue as the entire solar system has been heating up. CO2 makes up just 4/100’s of ONE PERCENT of the atmosphere. The liars make it sound like its 50%