London: British Airways has warned that flight prices may rise as the ongoing crisis in the Middle East drives up fuel costs. The airline’s parent company, International Airlines Group, said higher oil prices are likely to be passed on to passengers.
The surge in energy costs has been linked to disruptions in the Strait of Hormuz, a key global shipping route for oil. The closure of the waterway has limited tanker movement, pushing up global fuel prices and affecting aviation costs.
Although airlines often hedge fuel purchases to protect against price volatility, International Airlines Group said it is not fully shielded from the current crisis. The company acknowledged that rising costs will eventually impact flight prices.
Despite the challenges, the group has stated that there are currently no immediate disruptions to jet fuel supplies. However, concerns remain about potential shortages if the situation continues.
Authorities in the United Kingdom are monitoring fuel supplies closely, as airlines prepare for possible constraints. The impact of the crisis could extend beyond pricing, potentially affecting flight schedules.
In response, the UK government has introduced flexibility for airlines regarding airport slot usage. Carriers will be allowed to cancel flights without losing their allocated slots if fuel shortages prevent operations.
Other airlines, including Jet2, have indicated that they expect to continue operating as normal in the near term. However, the situation remains uncertain.
European officials have also warned that travellers may face higher costs or disruptions. Rising fuel expenses are expected to play a key role in shaping flight prices in the coming months.
The aviation sector is closely watching developments in the Middle East, as stability in oil supply will be crucial to controlling costs.
The outlook suggests that flight prices could remain under pressure as long as energy markets continue to be affected by geopolitical tensions.
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