Since the Iran war closed the Strait of Hormuz, nearly 20 percent of the world’s oil supply has been choked, sending prices skyrocketing. especially for jet fuel. So far, the war may already be costing the airline industry an additional $15 billion. Airlines have responded by raising ticket prices, charging more for bag feesand cut back on flights they have deemed unprofitable due to high fuel costs.
But even if the war ends and fuel costs stabilize, major airlines may not be willing to bring their prices back down. In fact, organizations seem all but guaranteed take advantage of pushing users to pay more to fly.
For over 40 years, flying has been the cheapest way to travel. We have been living in the era of cheap flights that have moved air travel from the status of luxury to the status of global public transport. This video explains how that era may be coming to an end.
