IATA Hints Hike in Air Fare

As fuel prices rise, an airline industry executive has predicted that the cost of flight tickets will "without a doubt" increase. As economies recover from the Covid epidemic and as a result of the crisis in Ukraine, oil prices have increased.

Willie Walsh, Director General of the International Air Transport Association (IATA), stated that these expenses will be passed along to customers. Heathrow Airport "could have prepared better," according to the former British Airways CEO, to prevent the latest disruption.

Heathrow, though, claimed that Mr. Walsh's remarks were "ill-informed." Without a doubt, the cost of flying will increase for customers, he said, adding that the "high price of oil" will be "reflected in higher ticket prices.

As demand increased once again in nations that had begun to recover from the Covid epidemic, oil prices were already on the rise. The effects of the conflict in Ukraine have increased costs even further.

The UK will gradually stop importing Russian oil by the end of the year, and the US has imposed a total ban on Russian oil imports. By the end of 2022, most imports of Russian oil will be prohibited, according to leaders of the European Union.

This indicates that there is a greater need for oil from other sources, which raises the price. Fuel costs, according to Mr. Walsh, are at all-time highs, and "oil is the single biggest aspect of an airline's cost base."

Along with increased ticket prices, travellers on UK airlines have experienced flight cancellations due to significant disruption at various airports, including Heathrow, Gatwick, and Manchester.

According to Mr. Walsh, travellers whose flights are cancelled might not be charged more to rebook.