Get ready to loose your pocket, flight tickets can become costlier by up to 25%; Big revelation in the report

McKinsey Report On Air Travel Expensive: People traveling by air may now find it expensive to travel within the country and abroad. The world’s renowned consulting company McKinsey has released a latest report. According to the report, flight ticket prices may increase by 25 percent. According to media reports, due to the ongoing conflict in many parts of the world and shortage of oil refineries, the supply of jet fuel has been adversely affected. Due to this, the operating expenses of airlines companies are continuously increasing. Due to this, there is a possibility of increase in flight fares across the world in the coming time.

Demand-supply balance disturbed

McKinsey said in its report that the travel season starts during summer holidays. In such a situation, the demand for jet fuel has started increasing even before the start of the season. At the same time, its stock is continuously decreasing.

Let us tell you, some countries of Asia and Gulf countries together export about 40 percent of the world’s jet fuel, but due to conflict between these countries, there has been a continuous decline in the production from the refineries there. Due to this the demand-supply balance in the global market got disturbed.

reduction in strategic storage

Due to disruption in the supply of jet fuel, only old stock is being used to meet its demand. This has led to a huge reduction in strategic storage. It will take a long time to refill it. Therefore, its demand is going to remain high for many months to come.

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The burden of inflation will fall on passengers

Let us tell you, in any air journey, about 30 percent of the total ticket fare goes towards the cost of jet fuel. In such a situation, if there is a shortage or increase in fuel prices, the burden will also fall on the passengers. In such a situation, it is expected that air ticket fares may increase by about 20-25 percent.