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Lufthansa cuts 20,000 summer flights as fuel prices surge
TL;DR
Lufthansa is cutting 20,000 summer flights due to soaring fuel prices, which have made many routes unprofitable. The rise in jet fuel prices is linked to the ongoing US-Israel conflict with Iran, affecting production and transportation.
Key points
- Lufthansa cuts 20,000 flights over summer
- Soaring fuel prices make routes unprofitable
- Jet fuel prices have doubled due to US-Israel conflict
- Several airlines are cutting flights and raising prices
- Gulf accounts for 50% of Europe's aviation fuel imports
Mentioned in this story
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US-Israel warIran
German airline Lufthansa will cut 20,000 short-haul flights over the summer, saying soaring fuel prices have made many journeys "unprofitable" for the firm.
Jet fuel has doubled in price since the start of the US-Israel war with Iran as the conflict has slowed its production and transportation across the Middle East.
Several airlines, including KLM-France and Delta, have also temporarily cut some flights while others have raised ticket prices as they pass on expenses to customers.
Analysts have warned that travellers should expect further ticket price rises and more cancelled flights as the conflict continues.
The Gulf is a major source of aviation fuel, accounting for about 50% of Europe's imports. The bulk of it comes through the Strait of Hormuz, which Iran has effectively closed in response to US and Israeli attacks.
The increase in jet fuel prices reflects the role Middle Eastern refineries play in supplies. The Al-Zour refinery in Kuwait alone provides roughly 10% of Europe's jet fuel imports, according to Energy Intelligence.
The International Energy Agency warned last week that Europe could run out of jet fuel in weeks, though the UK government and airlines say they are not seeing a disruption in supply.
Lufthansa said on Tuesday it was cutting down its European network, but that passengers will "continue to have access to the global route network, particularly long-haul connections".
"However, due to the increase in jet fuel prices, this will be achieved significantly more efficiently than before."
It said this would save "approximately 40,000 metric tons of jet fuel".
The announcement on Tuesday comes after the firm said last week it was speeding up the permanent closure of its European flight offering CityLine.
It also said at the time it was retiring the programme's 27 aircraft, partly due to "significantly increased kerosene prices", but also because of "additional burdens from labor disputes".
Lufthansa said "the first 120" of these flight cuts were implemented on Tuesday. Routes affected include those from Frankfurt to Poland and Norway.
Q&A
Why is Lufthansa cutting 20,000 flights this summer?
Lufthansa is cutting flights due to soaring fuel prices that have made many short-haul journeys unprofitable.
How have fuel prices affected airlines like Lufthansa and Delta?
Soaring fuel prices have led airlines like Lufthansa and Delta to cut flights and raise ticket prices as they pass on increased costs to customers.
What impact does the US-Israel conflict have on aviation fuel prices?
The US-Israel conflict has slowed the production and transportation of aviation fuel, causing prices to double and affecting airlines' operations.
