Airline profits plummet as US fuel costs nearly double

IATA forecasts $350bn airline fuel bill for 2026, with profits dipping to their weakest margin since the COVID-19 pandemic.

Jet 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.

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