Airlines are trading nearly 23% higher ticket prices for emptier planes as jet fuel prices spike over 90% from the Iran War’s fuel squeeze
Source: Fortune ·
Jet fuel has nearly doubled in price since February—leaving airlines scrambling to make up the difference.
From the source
American, United, Delta and other major carriers are betting that emptier planes can protect profit margins through higher ticket prices. Delta Air Lines, United Airlines, American Airlines, Southwest Airlines and Alaska Air Group have angled their businesses to generate more passenger revenue through higher individual prices as jet fuel prices climb—U.S. airfares have climbed 22.4% year over year. The five major airlines generated nearly $8.8 billion more in passenger revenue in Q3 2026 than in Q3 2025—an 18% increase, according to Reuters. But passenger traffic grew less than 1%. “If fuel stays elevated, we have to continue to push yield up so that we can make a bit of money,” Devon May, American Airlines chief financial officer, told Reuters. Jet fuel prices forcing their hand The central pressure on airlines is the cost of fuel, one of the industry’s largest operating expenses. Gulf Coast spot jet fuel prices rose from $2.43 per gallon before the war began in February to $4.63 in…