Air fare rises ‘inevitable’ as airlines face extra $100bn jet fuel bill this year

‘High oil prices will inevitably mean higher ticket prices,’ says Willie Walsh, Iata’s director general. ‘There’s just no way to avoid that.’ Photograph: Ina Fassbender/AFP/Getty Images

Airlines will have to spend an extra $100bn on jet fuel this year, with fares “inevitably” rising to cover the bill after the war with Iran choked off oil supplies.

With jet fuel prices expected to be 70% higher across 2026, airlines body Iata said that collective industry profits worldwide would halve to $23bn. Some carriers would struggle to survive the fuel price shock caused by the closure of the strait of Hormuz in March, it said.