Travelers Pay the Price as Airlines Pass On Soaring Jet Fuel Costs
Key Points: Airlines face over $6 billion in additional costs this year because the conflict in Iran forced the Strait of Hormuz to close. Domestic economy ticket prices jumped 21% to an average of $570, while premium seats rose 17% to $1,444. Major carriers like American Airlines expect revenue growth of up to 16.5% in the second quarter despite the fuel crisis. Budget airlines are...