A majorairlineis suspending all flights to New York’sJFK International Airportthis summer due to the war in Iran creating jet fuel shortages. Canada’s flag carrier,Air Canada, said on Friday that flights from Toronto and Montreal to JFK will cease from June 1 and won’t be resumed until October 25.
Services to the New York metropolitan area’s two other airports — LaGuardia and Newark — will continue. Air Canada said it will reach out to customers who are affected by the suspension with alternative travel options.
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A spokesperson for the Montreal airline said: “As jet fuel prices have doubled since the start of the Iran conflict and some lower profitability routes and flights are no longer economic, we are making schedule adjustments accordingly.”
The average price for a gallon of jet fuel reached 4.32 dollars (£3.19) on Thursday, up from 2.50 dollars (£1.84) the day before the war in Iran broke out, according to Argus Media.
Oil prices dropped more than 10% on Friday after Iran said the Strait of Hormuz is open again for commercial tankers carrying oil from the Persian Gulf to customers worldwide.
Fuel and labour costs are typically the largest annual expenses for airlines.
Delta Air said this month that the tab for higher fuel would add 2 billion dollars to its second-quarter costs. Airlines including JetBlue and United Airlines are raising bag fees to offset skyrocketing fuel costs while others scale back services.
In an exclusive Associated Press interview on Thursday, International Energy Agency director Fatih Birol said Europe has “maybe six weeks” of remaining jet fuel supplies and said the global economy faces its “largest energy crisis”.
Source: Daily Express :: World Feed
