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Fuel Prices Send Airfares Soaring Globally

Published March 10, 2026, 09:11
Fuel Prices Send Airfares Soaring Globally

Rising fuel prices, triggered by the conflict in the Middle East, are driving up airfares worldwide. Airlines Qantas Airways and Air New Zealand have already announced fare increases, while Air New Zealand has suspended its 2026 financial forecasts due to uncertainty. The war between Israel and Iran has sent oil prices soaring, impacting travel and raising fears of flight reductions. Qantas is considering reallocating capacity to Europe as passengers avoid the Middle East. Other airlines, such as Cathay Pacific and Hong Kong Airlines, are increasing fuel surcharges and adding extra flights on popular routes. Air New Zealand has already increased fares on domestic and international flights.