German airline Lufthansa said on Wednesday it would cancel 20,000 short-haul flights within Europe to save money, citing the dramatic rise in jet fuel prices caused by the US-Israeli war with Iran, which has dramatically restricted the flow of petroleum products through the Strait of Hormuz.
“A total of 20,000 short-haul flights will be canceled from the schedule until October, which corresponds to around 40,000 tons of kerosene, the price of which has doubled since the outbreak of the Iran conflict,” the airline said a statement.
“The planned consolidation of the European network will take place across the Lufthansa Group’s six hubs in Frankfurt, Munich, Zurich, Vienna, Brussels and Rome,” the airline said. “Passengers therefore continue to have access to the global route network, especially on long-haul connections.”
Several other major airlines – both in Europe and the US, which are far less reliant on fuel supplies from the Middle East – had already announced temporary flight cuts.
Air Canada, Delta and other airlines Cancellations were announced earlier this month.
“The rise in oil prices is big news in general and the impact on jet fuel prices is clear,” Stephen Rooney, senior economist at Tourism Economics, told CBS News last week. “Jet fuel is a huge cost for airlines, especially on long-haul flights.”
