AIR France-KLM cut its 2026 outlook, saying higher fuel prices caused by the Middle East war would expand its fuel bill by more than a third.
The airline group, which also includes budget airline Transavia said it now expects to expand capacity by two to four per cent this year, down from its earlier forecast of three to five per cent. Air France-KLM announced a net loss of 252 million euros ($294 million) in the first quarter, an increase of one per cent from the same period last year.
“While fuel price increases are not yet reflected in the results we present today, they are expected to weigh on the coming quarters,” said chief executive Benjamin Smith. The war, triggered by US and Israeli attacks on Iran at the end of February, has nearly halted shipping traffic via the Strait of Hormuz, through which around a fifth of the world’s oil normally passes. Jet fuel prices more than doubled in the first few weeks of the war. — AFP
#TheGlobalNewLightOfMyanmar