Carriers are axing flights en masse amid soaring jet fuel prices caused by the US-Israeli war on Iran and the Strait of Hormuz blockade
The steep rise in jet fuel prices caused by the US-Israeli war on Iran is posing a bigger challenge to the global airline industry than the Covid-19 pandemic did, according to AirAsia CEO Tony Fernandes.
In response to the US-Israeli aggression, Tehran has closed the Strait of Hormuz – a choke point through which around 20% of global crude passes – to “enemy ships.” US President Donald Trump has meanwhile imposed a blockade on Iranian ports. Massive maritime traffic disruptions have sent global oil prices…
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