If the world runs out of oil, are cheap flights the first thing we’ll lose?
Subscribe to Guardian News on YouTube ► https://www.youtube.com/user/guardianwires?sub_confirmation=1
It’s not a question anyone has had to ask before – since air travel began, it has never been globally impeded by a fuel shortage.
But since the start of the war on Iran, jet fuel has doubled in price and is already having a knock-on effect on airlines.
Lufthansa has cut 20,000 flights, Spirit Airlines has gone bust and Virgin has said that it cannot absorb higher fuel costs and may have to increase fares.
But there is some good news: easyJet has launched a “book with confidence” policy, guaranteeing no price increases after the fact.
It has been able to offer its guarantee because it’s 70% hedged, though only until September.
As the Guardian columnist Zoe Williams writes, “literally running out [of fuel] is not a thing”. She says the crisis could accelerate what is known as “jet zero”.
#iranwar #iran #fuelcrisis #jetfuel #travel
