World
US airline profits plummet as fuel prices nearly double
Jet fuel prices in the US surged 78% in April, pushing the global industry fuel bill to an estimated $350 billion in 2026, according to IATA. Airline profits have fallen to their lowest level since COVID-19, with net industry profit forecast at just $23 billion. Spiraling fuel costs have forced carriers like Spirit Airlines to cease operations and others to raise fares or suspend routes.
