How the war in Iran could end affordable air travel
The ongoing war in Iran has significantly disrupted global oil supply, leading to soaring jet fuel prices and increased costs for airlines. As a result, the airline industry is facing financial strain, with some low-cost carriers like Spirit Airlines shutting down. This situation may mark the end of an era of affordable air travel, as airlines may not reduce prices even if fuel costs stabilize.
- ▪The war in Iran has closed the Strait of Hormuz, choking off about 20 percent of global oil supply.
- ▪Airlines have incurred an additional $15 billion in costs due to rising fuel prices.
- ▪The closure of Spirit Airlines has had a ripple effect, canceling routes and increasing ticket prices.
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Video VideoHow the war in Iran could end affordable air travel Oil prices, low-budget airline struggles, and a looming fuel shortage are putting the squeeze on consumers.by Benjamin StephenJun 4, 2026, 11:00 AM UTCShareGiftSince the Iran war led to the closing of the Strait of Hormuz, about 20 percent of global oil supply has been choked off, sending prices sky high, especially for jet fuel. So far, the war may already be costing the airline industry an additional $15 billion. Airlines have responded by raising ticket prices, charging more for bag fees, and cutting flights that they’ve deemed unprofitable because of higher fuel costs.This price shock was a deciding factor in the May 2026 closure of Spirit Airlines.
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