Source: International Business Times
Justin Sullivan/Getty Images The global airline industry is headed for a year in which its profits are projected to be cut nearly in half as carriers grapple with a $100 billion surge in fuel costs triggered by the war in Iran. According to a report by the International Air Transport Association (IATA), airlines worldwide are now expected to generate a combined net profit of $23 billion in 2026, down sharply from the $45 billion earned in 2025 and well below the organization's previous forecast of roughly $41 billion for 2026. Read moreChina's Reduced Oil Imports Have Helped Keep Prices In Check, But That Won't Last Much Longer: AnalystsOil Plunges After Iran Announces End Of Military Action Against IsraelThe downgrade comes as jet fuel prices have climbed about 70% following disruptions to oil markets and air traffic routes linked to the war with Iran and its regional spillover effects.
