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Air Transat cutting hundreds of flights due to high jet fuel costs
The airline will trim hundreds of flights and lower Europe and Caribbean service as jet fuel prices jump 105%, the International Air Transport Association said.
- On Wednesday, Transat Inc announced it will cut hundreds of flights and reduce capacity six per cent from May through October, lowering frequencies to Europe and the Caribbean while extending its Cuba service suspension.
- The Israeli war on Iran disrupted oil flows through the Strait of Hormuz, causing soaring jet fuel prices that reached US$4.39 per gallon this week, up 105 per cent compared to last year's average per the International Air Transport Association.
- WestJet Airlines and Air Canada have also trimmed capacity to drop less profitable routes, with WestJet cutting its network by three per cent in May and 5.5 per cent in June amid sector-wide cost pressures.
- CEO Annick Guerard stated that while demand remains strong, Transat faces an "unprecedented aviation fuel crisis" and is closely monitoring cost pressures affecting the entire sector.
- With airfares already up 2.9 per cent year over year in March per Statistics Canada, National Bank analyst Cameron Doerksen noted most airlines have implemented fuel surcharges to offset rising costs passed to passengers.
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22 Articles
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Air Transat will reduce its capacity by 6% from May to October due to the high price of kerosene.
·Montreal, Canada
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Air Canada and WestJet had already announced a reduction in the wing for the same reason.
·Montreal, Canada
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Total News Sources22
Leaning Left10Leaning Right3Center6Last UpdatedBias Distribution53% Left
Bias Distribution
- 53% of the sources lean Left
53% Left
L 53%
C 31%
R 16%
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