Flight prices are set to rise even further as fuel prices continue to soar, Willie Walsh, director-general of the International Air Transport Association (IATA), has warned.
Walsh, who previously served as CEO of Aer Lingus and British Airways, told the BBC’s “Sunday Morning” that airlines would ultimately be forced to pass higher oil prices onto customers in the form of higher ticket prices as oil prices remain volatile.
Flight prices have already risen substantially in recent months amid a resurgence in demand for air travel as economies across the globe recover from the COVID-19 pandemic.
Russia’s invasion of Ukraine has further exacerbated oil prices owing to Western sanctions against Moscow, with the Biden administration announcing a complete ban on oil imports from Russia, while the UK and European Union hope to gradually phase out Russian supplies….