From AirAsia to Qantas, airlines raise fares as Iran war fuels oil price surge

South China Morning PostCenter-RightEN 3 min read 100% complete by BloombergMarch 12, 2026 at 10:33 AM

AI Summary

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Airlines in Asia and Europe, including AirAsia, Qantas, Air India, Air New Zealand, Cathay Pacific, Finnair, and Hong Kong Airlines, are increasing fares and fuel surcharges due to surging oil prices caused by the Iran war. Announced on March 12, 2026, these adjustments are a response to volatile oil markets and potential jet fuel shortages. The conflict has also led to the cancellation of over 43,000 flights in and out of the Middle East between February 28 and March 10, increasing demand for alternative routes and further driving up ticket prices. Some airlines are suspending earnings guidance due to the unpredictable fuel costs.

Key Entities & Roles

Key Player Opposition Context

Ukraine 40% Air India Express 60% Europe ×260% Air New Zealand 60% Finnair 60% Hong Kong Airlines 60% Qantas 70% Cathay Pacific Airways 70% Asia ×270% Air India ×270% AirAsia ×280% Iran 90%

Keywords

oil price surge 90% airline fares 90% fuel surcharges 80% iran war 70% jet fuel shortages 60% middle east 60% alternative routes 50% flight cancellations 50%

Sentiment Analysis

Negative

Score: -0.40

Source Transparency

Source

South China Morning Post

Political Lean

Center-Right (0.50)

Far LeftCenterFar Right

Classification Confidence

90%

Geographic Perspective

Iran

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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oil price surge airline fares fuel surcharges iran war jet fuel shortages middle east alternative routes flight cancellations

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