The spike in oil prices, triggered by the US and Israel's military actions against Iran, is directly impacting the cost of aviation fuel, leading airlines such as SAS to announce fuel surcharges on certain flights. Norwegian has also hinted at price adjustments in response to this crisis, indicating that airline ticket prices could soar as a result. The rise in costs comes at a time when travel demand remains strong, suggesting a challenging summer ahead for consumers planning air travel.

SAS CEO Anko van der Werff expressed concerns about the sustainability of the current situation, stating that airlines are struggling to absorb the increased costs and that the conflict must find resolution soon to mitigate its effects. He emphasized that unless a solution is found by the summer months, the ramifications could extend beyond just the airline industry, potentially impacting the global economy significantly.

The concern is that continued high oil prices, driven by geopolitical tensions, could escalate further, which would not only affect airfare but could also dampen demand in the travel sector. Industry analysts are closely monitoring this situation, with calls for swift diplomatic actions to stabilize the region and prevent further economic fallout, emphasizing the urgency of resolving the conflict by late spring or early summer.