Airlines have scaled back expansion plans as the Iran war disrupts the industry, sending fuel prices soaring, threatening supplies and prompting some Asian carriers to enter crisis mode.
Before the war, airlines planned to increase capacity this April by 5.4 per cent year on year, according to aviation consultancy Cirium. This has now been cut to growth of just 0.2 per cent.
Korea’s flag carrier told staff in an email on Tuesday that it would “shift to an emergency mode” and cut costs in response to soaring fuel prices.
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