If you were planning a stylish spring “city break” in Stockholm or Copenhagen, you might need to dig a little deeper into your pocket when booking flights.
The price of jet fuel is one of the biggest expense items for any airline, and any fluctuations in the oil market are felt immediately by the airlines.
In a Tuesday statement, SAS Airlines explained that the unusually rapid and sharp increase in oil prices forced them to respond quickly. Prices have recently climbed to their highest levels since 2022.
The price shock is largely due to disruptions in global supply. The ongoing conflict in the Middle East between the USA, Israel, and Iran has practically paralyzed transport through the Strait of Hormuz – a key strategic passage for oil exports from the Persian Gulf countries.
Despite hopes for a quick diplomatic resolution, SAS had to hedge for now. “Although we always strive to absorb cost fluctuations where possible, an increase of this magnitude requires us to respond to maintain stable and reliable operations,” the airline's management tells passengers.
