Airlines face 'mounting crisis' amid high fuel prices, report warns
UKPulse Consumer Desk
A new report highlights a "mounting crisis" for airlines, with persistently high fuel prices forcing carriers to cut flights and delay payments on leased aircraft.
- High fuel prices are forcing airlines to cut flights, axe costs, and delay payments on leased aircraft.
- The Financial Times reports that the risk of airlines collapsing this winter is higher than in previous years.
- Spirit Airlines and airBaltic both collapsed earlier in the year.
Airlines are facing a "mounting crisis" due to persistently high fuel prices, according to a report in the Financial Times. The situation is reportedly compelling carriers to reduce flights, cut costs, and postpone payments for leased aircraft.
Industry leaders, analysts, and financiers have indicated that the "spectre of airlines falling over the winter season" is higher than in previous years. This follows the earlier collapses of Spirit Airlines and airBaltic this year.