Carriers suspend some flights. A hefty fuel bill

According to IATA's June forecast, airline fuel costs are expected to rise significantly, reaching $350 billion in 2026. This increase is attributed to a projected average Brent crude oil price of $95 per barrel. High fuel prices are putting financial pressure on airlines, with fuel expected to account for over 30% of their costs. IATA predicts that industry profits will halve to $23 billion in 2026, resulting in a net margin of only 2%. Airlines are struggling to manage rising costs, and many are suspending routes or reducing capacity. Major carriers like EasyJet and Ryanair are also cutting back on flight availability due to these challenges. The situation is expected to worsen in the winter season, particularly for less profitable airlines.