Fuel price surge pushes airlines to cut flights despite growing demand

Global air passenger traffic is forecast to reach roughly 5.2 billion passengers in 2026, equal to around 10.2 billion airport passenger movements, according to the source. That would be year-on-year growth of between 3.9% and 4.4%.

Even so, airlines are trimming schedules and revisiting capacity plans. The cause is the cost of jet fuel, which has remained high well after the initial geopolitical shock that drove energy prices up.

The industry has absorbed a run of disruptions in recent years: the COVID-19 pandemic, several airspace closures and operational problems tied to geopolitical conflicts. Attention has now moved from flying around disrupted Middle Eastern airspace to managing fuel costs that have stayed elevated for far longer than the first price spike suggested.