Big Take Podcast

With Fuel Prices Soaring, Airlines Brace for Narrower Margins

On today’s Big Take podcast: What the crunch means for the aviation industry — and your summer travel plans.

A fuel tanker by a passenger aircraft, operated by Ryanair Holdings Plc, at Vaclav Havel Airport in Prague, Czech Republic, on Saturday, April 25, 2026. Airlines around the world are raising prices for bags and seats, dialing back profit forecasts and openly discussing ways to link up with rivals as the chokehold from war-related fuel costs tightens.Photographer: Milan Jaros/Bloomberg

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By Julia Press and Sarah Holder

May 4, 2026 at 8:51 PM UTC

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For global airlines, this year was supposed to be a big one. The industry projected record profits — backed by more than 5 billion passengers — and a busy summer travel season ahead. But then came the war in Iran, the closure of the Strait of Hormuz and major disruptions to global jet fuel supplies.