Iran-Israel tension hits air travel, Indian airlines increase fares by 15%; Know which routes are most affected

International Flight Fare Hike: The impact of increasing tension in the Middle East is now visible directly on the pockets of the common man. Indian Airlines has increased the fares of international flights by about 15%. Bloomberg gave this information in one of its reports. According to the report, due to the increasing war between America-Israel and Iran and the impact of the Hormuz Route, there is a continuous increase in the prices of crude oil and jet fuel. Whose impact is also visible on the global aviation industry.

Major airlines in Asia and around the world, including India, have also increased ticket prices and many companies are also planning to ground their planes. Experts say that this could be the biggest oil crisis since the 1970s.

Rent may increase further in future

According to the report, in view of the increase in the prices of jet fuel i.e. ATF, Indian aviation companies may increase the fares further in the coming days. Airlines say that due to increasing operational costs they have no option left but to increase fares.

Jet fuel prices doubled

The oil supply chain has been badly affected since the Iran-Israel war started on February 28 and the Hormuz Route was affected. Because of this, crude oil prices are continuously increasing. The price of Brent crude oil has come down to $ 93 per barrel today. A day earlier, the price of Brent crude oil had reached around $120 per barrel.

More than 40,000 flights canceled

In many markets, jet fuel prices have doubled since the conflict began. Before the war, jet fuel prices were around $85 to $90 per barrel, which has now increased to between $150 to $200 per barrel. Due to the tension in the Middle East, more than 40,000 people have died worldwide so far. flights canceled Have also happened.

Due to rising jet fuel prices, airlines around the world have not only increased ticket prices but have also withdrawn their future financial projections. Jet fuel is the biggest expense for airlines. Its share in total operating expenses is 30% to 40%.

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This sudden change in oil prices has spoiled the budget of the airlines. Big companies like Air New Zealand and Qantas have also made it clear that they will pass the burden of increased expenses on to the passengers.