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00:02Alaska Air Group withdrew its full-year profit forecast
00:05as rising jet fuel costs tied to the Iran War pressured margins
00:09and increased uncertainty, according to CNBC.
00:13Airlines faced higher costs after U.S.-Israeli strikes on Iran
00:16disrupted the Strait of Hormuz, a key oil route.
00:20Jet fuel prices have nearly doubled since the conflict began,
00:23while carriers remained locked into pre-sold tickets.
00:26Alaska had forecast 2,026 earnings of $3.50 to $6.50 per share.
00:33CEO Benito Minacucci said the airline uses about 100 million gallons of fuel monthly,
00:39and a $1 increase adds about $100 million in costs.
00:43The company shifted fuel sourcing, including shipments from Singapore to Seattle,
00:48as West Coast prices remained elevated due to refining constraints.
00:51For all things money, visit Benzinga.com.
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