The European aviation sector is facing its most severe crisis since the 2020 pandemic, as the ongoing Middle East conflicts have pushed jet fuel prices to multi-year highs and forced major carriers to overhaul their strategies.
In its first-quarter earnings report published on Wednesday, Germany’s flag carrier Lufthansa said it had hedged around 80 per cent of its jet fuel requirements. Despite these measures, it expects fuel-related costs in 2026 to increase by 1.7 billion euros (US$2 billion), nearly 24 per cent higher than previously forecast, mainly driven by surging energy prices and disrupted global aviation markets.
Xinhua
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