Lufthansa Axes 20,000 Summer Flights As Jet Fuel Shock Hits Europe
Lufthansa Group plans to axe 20,000 short-haul flights from its summer roster through October, a significant retreat as jet fuel prices climb on fallout from the Iran conflict. The German airline expects to save upwards of 40,000 metric tons of jet fuel with the move, while group capacity will shrink by under 1%—measured in available seat kilometers, or the total number of seats multiplied by distance flown. The timing is crucial, with peak summer bookings ramping up just as airlines face soaring fuel bills. Jet fuel has jumped sharply—Reuters puts prices in the $150-$200 per barrel range lately, compared to $85-$90 previously. That’s a huge hit, considering fuel often eats up as much as 25% of airline operating costs.
