Amid Israel’s strikes, Delta, American, United, and other airlines take a beating on oil’s surge and airspace closures

Israel’s air strikes on Iran sent oil prices spiking, with Brent crude futures climbing to more than $78 at one point — the biggest intraday jump since the early days of Russia’s invasion of Ukraine in 2022.

US airlines including Delta Air Lines, American Airlines, and United Airlines all slid steeply in early trading on Friday as investors feared higher oil costs and supply disruptions weighing on carriers’ bottom lines.

Airspace closures are also hurting airline stocks: Israel, Iran, Iraq, and Jordan all paused flights over their territory. Those closures will cause certain routes to lengthen, bumping fuel costs higher and make scheduling harder.

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JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.

JetBlue Airways raises bag fees as fuel prices soar

As CNBC reported, when one airline raises fees, others tend to follow.

JetBlue did not immediately respond to a request for comment.

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