Airline giant announces astronomical additional costs due to Iran war

Lufthansa expects €1.7 billion in additional fuel costs in 2026 due to the conflict in the Middle East.
Lufthansa has already canceled 20,000 short-haul flights to save fuel and eliminate unprofitable routes.
Europe faces a jet fuel crisis due to the blockade of the Strait of Hormuz, with prices more than doubling by the end of March.
EasyJet reported an additional £25 million in fuel costs in March and weaker bookings for the rest of the year.
Middle East refineries supply about 75% of Europe’s jet fuel, and Europe is now trying to source fuel from the US and Nigeria.
The IEA chief warned that Europe could run out of jet fuel within weeks if it does not secure additional imports.