• Main
  • News
  • Economy
  • Airfares set to rise due to the escalating situation in Iran – Bloomberg

Airfares set to rise due to the escalating situation in Iran – Bloomberg

Anna Kramarenko
Anna Kramarenko Editor-in-Chief
Airfares set to rise due to the escalating situation in Iran – Bloomberg
Due to the sharp rise in oil prices, some airlines have started cancelling flights.
Due to the sharp rise in oil prices, some airlines have started cancelling flights. Meanwhile, passengers are rushing to book tickets at the old prices, which has led to a surge in demand.

This is according to Bloomberg.

According to Ryanair CEO Michael O’Leary, fuel reserves can protect the company from sharp spikes in fuel prices in the short term. But if oil prices continue to rise, this will be reflected in ticket prices. 

“The average profit in my company is around €10 per passenger,” said Carsten Spohr, CEO of Deutsche Lufthansa AG, at an industry conference in Brussels.

Fuel is one of the biggest cost items for airlines, and the sharp rise in the price of Brent crude to over $118 a barrel has forced some carriers to introduce fuel surcharges and even cancel some flights.

In response, passengers are rushing to buy tickets at the old prices. US airlines were the first to note the rise in demand, stating that they are seeing some of the strongest booking figures, as premium-class passengers and business travellers book seats in advance.

Demand for new Air France-KLM flights to Asia and Africa is “very high”, said CEO Ben Smith.

Lufthansa added 40 extra flights to Asia following a reduction in capacity in the Middle East, and these flights, according to Schpor, “filled up in a matter of days”.

Share tittle
Economy
More
Women in Ukraine earn less than men: in which sectors is the pay gap the widest?
Economy

Women in Ukraine earn less than men: in which sectors is the pay gap the widest?

The average salary in Ukraine in the first quarter of 2026 was 28,885 hryvnias. However, the figures for men and women differ significantly, with the gap exceeding 47% in certain sectors.

04.06.2026
In 2026, over 2.1 billion hryvnias were allocated for the construction and repair of shelters in Kyiv
Economy

In 2026, over 2.1 billion hryvnias were allocated for the construction and repair of shelters in Kyiv

The city authorities have allocated 2,148,145,000 hryvnias for the construction of new civil defence shelters and the renovation of existing ones in 2026. In 2025, almost the same amount was allocated for construction alone.

04.06.2026
200 million tonnes of cargo have been transported via the Ukrainian maritime corridor
Economy

200 million tonnes of cargo have been transported via the Ukrainian maritime corridor

Since the launch of the Ukrainian maritime corridor in 2023, 200 million tonnes of cargo have been transported via it, of which 118 million tonnes is Ukrainian grain.

04.06.2026
‘Don’t pretend you’ve achieved anything,’ said the MP, criticising the director of the Economic Security Bureau of Ukraine for manipulating the results of their work
Economy

‘Don’t pretend you’ve achieved anything,’ said the MP, criticising the director of the Economic Security Bureau of Ukraine for manipulating the results of their work

MP Danylo Getmantsev stated that parliamentarians are dissatisfied with the slow progress in bringing the economy out of the shadows, and that, instead of delivering tangible results, the Economic Security Bureau is ‘feeding’ the public with presentations and manipulating the figures in its reports.

04.06.2026
Restrictions on petrol sales have been introduced in Moscow and St Petersburg
Economy
  • Important

Restrictions on petrol sales have been introduced in Moscow and St Petersburg

Petrol stations in Moscow and St Petersburg are introducing limits on the sale of petrol and diesel. The companies attribute these measures to market conditions and supply difficulties.

03.06.2026