Airlines are preparing to slash their winter flight schedules, with the potential for planes to be grounded and tens of thousands of flights cancelled if jet fuel prices remain elevated.
Executives will decide within weeks how to steer their airlines through the final months of a tumultuous year that has led to soaring fuel prices after the Iran war upended global travel.
ITA chief executive Joerg Eberhart told the FT the Italian airline may have to cut up to a fifth of its capacity during the winter season — which runs from October to April — in a worst-case scenario. He predicted some players may need to seek government aid.
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