Airlines Cut Flights Amid Jet Fuel Surge from Middle East Conflict

Airlines around the world are slashing flight schedules as jet fuel prices soar due to disruptions from the ongoing conflict in the Middle East, with Cathay Pacific announcing the cancellation of hundreds of passenger flights in the coming weeks. The Hong Kong-based carrier confirmed it will suspend about 2 percent of its scheduled services from May 16 to June 30, 2026, affecting thousands of travelers on regional and long-haul routes to destinations including Australia and South Asia. Its low-cost subsidiary, HK Express, plans to cut 6 percent of flights starting May 11, while services to Dubai and Riyadh will remain suspended until the end of June.

The reductions stem from a sharp rise in operating costs, driven by jet fuel prices that have more than doubled since late February. Global average prices reached $209 per barrel for the week ending April 3, up from $99.40 the week before the conflict escalated on February 28, according to data from the International Air Transport Association. The Strait of Hormuz, a critical chokepoint for over 20 percent of the world's oil and gas shipments, has seen severely limited maritime traffic since hostilities involving Iran intensified,...