Airline profits plummet as US fuel costs nearly double
Key takeaways
- IATA forecasts $350bn airline fuel bill for 2026, with profits dipping to their weakest margin since the COVID-19 pandemic.
- Fuel costs surged by 78 percent to nearly $6.5bn in April, following a 26 percent jump in March, according to US Department of Transportation data released on Monday.
- The cost per gallon (3.78 litres) increased by $1.81 from this time last year to $4.11.
Why this matters: an international story with cross-border implications worth tracking.
IATA forecasts $350bn airline fuel bill for 2026, with profits dipping to their weakest margin since the COVID-19 pandemic.
xwhatsapp-strokecopylinkgoogle Add Al Jazeera on Googleinfo Stocks of major airlines including Southwest, United and Delta are down on Monday [File: Julio Cortez/AP]By Al Jazeera Staff, AP and Reuters Published On 8 Jun 20268 Jun 2026Jet fuel prices in the United States are rising sharply ahead of the peak summer travel season as escalating tensions between the US and Iran raise concerns about disruptions in the Strait of Hormuz, a critical passage for global energy shipments.
Fuel costs surged by 78 percent to nearly $6.5bn in April, following a 26 percent jump in March, according to US Department of Transportation data released on Monday.