00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Jet fuel prices have surged this year after attacks on Iran led to the Strait of Hormuz
00:07effectively closing, raising airline costs and pressuring profits, according to CNBC.
00:13Travelers are still flying and covering higher fares, with March ticket sales rising 12% to
00:18$10.4 billion as domestic trips increased 5% and international trips rose 1%.
00:25Domestic economy fares climbed 21% to $570, while premium seats rose 17% to $1,444.
00:33Airlines said the conflict has added more than $6 billion in costs.
00:37Carriers expect customers to absorb fuel costs by early 2027.
00:42Airlines are cutting capacity to support pricing,
00:44while low-cost carriers are seeking $2.5 billion in relief.
00:48For all things money, visit Benzinga.com.
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