Massive flight cancellations have occurred worldwide due to the war in the Middle East
According to The Telegraph, massive flight cancellations have begun to occur worldwide due to the war in the Middle East.
In recent days, around 7% of all scheduled flights have been canceled, representing more than 7,000 departures. In North America, the cancellation rate reached 14.6%.
The reason is the sharp increase in fuel prices following the escalation of the situation in the Middle East.
The price of aviation kerosene has risen from $742 to over $1,710 per ton.
At the same time, Brent oil rose to $116 per barrel.
The situation is exacerbated by the reduction of supply through the Strait of Hormuz, through which approximately one fifth of the world's oil passes.
According to analysts, a severe aviation fuel shortage could occur in less than a week.
Airline ticket prices have already increased by between 15% and 20% in recent weeks, and demand is starting to decline.$BTC
According to The Telegraph, massive flight cancellations have begun to occur worldwide due to the war in the Middle East.
In recent days, around 7% of all scheduled flights have been canceled, representing more than 7,000 departures. In North America, the cancellation rate reached 14.6%.
The reason is the sharp increase in fuel prices following the escalation of the situation in the Middle East.
The price of aviation kerosene has risen from $742 to over $1,710 per ton.
At the same time, Brent oil rose to $116 per barrel.
The situation is exacerbated by the reduction of supply through the Strait of Hormuz, through which approximately one fifth of the world's oil passes.
According to analysts, a severe aviation fuel shortage could occur in less than a week.
Airline ticket prices have already increased by between 15% and 20% in recent weeks, and demand is starting to decline.$BTC