Flight Price Rises Due to 'Foolish Leaders' Starting Wars, Virgin's Branson Says
Virgin Atlantic added surcharges of up to £360 as consultancy Teneo said the conflict helped push air fares 25% higher.
- Virgin Group founder Sir Richard Branson blamed rising airfares on "foolish leaders" starting wars, specifically referencing the US-Israel conflict with Iran as "completely unnecessary."
- Middle East tensions disrupted oil production and transportation, pushing The European benchmark jet fuel price from around $800 to over $1,800 in April before moderating to around $1,450.
- Virgin Atlantic introduced fuel surcharges in May, adding £50 to economy fares, £180 to premium, and £360 to business class; chief executive Corneel Koster called the move "absolutely required."
- Ryanair announced plans to reduce its winter schedule due to higher fuel prices, warning that European short-haul fares could "increase materially" if jet fuel costs continue rising.
- Virgin Atlantic secured a contract to transport Team GB and ParalympicsGB delegations to Los Angeles for the 2028 Summer Olympics, replacing British Airways as the contract holder since 2008.
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sofokleous10.grThere was a nuclear deal with Iran that worked, Virgin boss says
Richard Branson, founder of the Virgin Group, identified soaring oil prices resulting from international conflicts as the primary cause of rising airfare and logistics costs. Currently, disruptions in the supply of aviation fuel and diesel are intensifying global inflationary pressure, and the industry is responding by raising surcharges and reducing routes. The surge in energy prices is dealing a direct blow to consumer prices by passing on tra…
The founder of the Virgin Group, British billionaire Richard Branson, says that air ticket prices have risen because of "unsuspected leaders triggering wars, in an indirect reference to the conflict between the United States and Israel against Iran. The Middle East conflicts have affected the production and transport of millions of barrels of oil, causing a strong increase in [...]
Richard Branson blames ‘foolish’ leaders for higher air fares as Iran war drives fuel costs - London Business News
Sir Richard Branson has criticised what he described as “foolish” world leaders for contributing to rising air fares, as his Virgin Atlantic airline adds fuel surcharges in response to the… The post Richard Branson blames ‘foolish’ leaders for higher air fares as Iran war drives fuel costs appeared first on London Business News
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