00:00U.S. airlines saw jet fuel costs surge more than 56 percent in March following escalating conflict involving Iran,
00:08creating major financial pressure across the aviation industry.
00:12Fuel spending jumped to more than $5 billion in a single month,
00:16forcing several carriers to slash growth plans and rethink forecasts for the year ahead.
00:21The impact has been especially severe for budget airlines,
00:24with Spirit Airlines citing soaring fuel prices as a key factor in its collapse over the weekend.
00:31Despite higher travel costs, consumers are still booking flights at a strong pace,
00:36signaling that demand for travel remains resilient for now.
00:39Airlines say ticket prices may continue rising next year as carriers work to pass higher fuel expenses on to passengers.
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