Airlines cut 13,000 flights in May as jet fuel prices soar
Airlines cut 13,000 flights in May as jet fuel prices soar8 minutes ago Share Save Add as preferred on GoogleEmer MoreauBusiness reporteriStock/Getty ImagesAirlines have cut 13,000 flights globally in May as jet fuel...
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An important development from the financial markets: Airlines cut 13,000 flights in May as jet fuel prices soar8 minutes ago Share Save Add as preferred on GoogleEmer MoreauBusiness reporteriStock/Getty ImagesAirlines have cut 13,000 flights globally in May as jet fuel prices soar due to the conflict in the Middle East. Airlines have removed nearly two million seats from flights over the month, which could potentially affect people's trips over the UK half-term holidays, which fall at the end of May.
Data from aviation analytics firm Cirium shows that Istanbul and Munich have seen the largest cuts to flights. Airlines are usually reluctant to cancel flights as it can cost them valuable take-off and landing slots in airports, but under new contingency plans in the UK they would be shielded from this.
Financial markets are tracking the development closely as investors assess the likely impact.
