Airline company Lufthansa cuts 20,000 flights as war squeezes fuel prices and supplies
LAS VEGAS (AP) — The German company that owns Lufthansa Airlines and other European carriers said Tuesday it will cut 20,000 short-haul flights by October. Iran war It increases oil prices and deepens concerns that some countries may run out of oil jet fuel.
Lufthansa Group It said the cancellation of less profitable routes, largely focused on hub airports in the German cities of Frankfurt and Munich, would save the equivalent of about 40,000 metric tons of jet fuel.
Last week, the company closed one of its regional subsidiaries, CityLine, to cut costs. He said the “planned consolidation” within the European network would also include Lufthansa Airlines, Austrian Airlines, Brussels Airlines, SWISS and ITA Airways, as well as hubs in Brussels, Rome, Vienna and Zurich.
The price of jet fuel has more than doubled in some markets since late February, when the war began with the United States and Israel attacking Iran. Airlines are particularly vulnerable to fuel price shocks because jet fuel often accounts for one of their largest operating expenses.
So for travelers I’m already translating Fewer flight options and higher fares and ticket prices on some routes busy summer seasonwith many airlines Increasing checked baggage fees or the addition of fuel surcharges.
fight around Strait of HormuzThe waterway off the coast of Iran, through which one-fifth of the world’s oil passes, has disrupted fuel prices and supplies worldwide.
The head of the International Energy Agency said on April 16 that Europe’s approx. 6 weeks worth jet fuel was left out and airlines were rumored to start removing routes from their schedules with no more left.
Lufthansa said it had secured sufficient jet fuel “for the coming weeks” and had “taken a number of measures” to keep fuel supplies stable throughout the summer, “including the physical supply of jet fuel”.
The airline is not alone in scaling back operations.
All but one of the world’s 20 largest airlines have canceled scheduled May flights spanning every major region, according to aviation analytics firm Cirium.
Among carriers besides Lufthansa Delta Airlines, United AirlinesAmerican Airlines, Air CanadaCirium said Emirates, Qatar Airways, Air China, British Airways and Air France-KLM are involved.
Last week, Switzerland-based carrier Edelweiss Air announced it would drop service to Denver and Seattle this summer and reduce flights to Las Vegas in early fall.
Air New Zealand is consolidating about 4% of its schedule for May and June.
“Like airlines around the world, we are experiencing jet fuel prices that are more than twice normal,” the carrier said.
global price jet fuel It rose from around $99 per barrel in late February to $209 per barrel in early April.
