Australia’s Qantas Airways, Scandinavia’s Scandinavian Airlines (SAS), and Air New Zealand announced airfare increases on Tuesday, citing a sudden surge in jet fuel costs linked to the escalating conflict in the Middle East.
The three carriers said the spike in energy prices had significantly increased operating costs, forcing them to pass some of the burden on to passengers through higher ticket prices. Airlines are particularly sensitive to fuel price swings because fuel typically accounts for a substantial share of operating expenses.