Air Transat charging more for flights to Europe as jet fuel prices weigh on airlines
Posted on: Mar 12, 2026 01:02 IST | Posted by: Cbc
transmit Transat is charging sir thomas more for flights to Europe as the soaring be of gush fire — triggered by an oil crisis that has emerged from the war in the Middle East — weighs on Canadian and international airlines.
"We have increased fuel surcharges on Europe. However, this is blended in the total price," said Jean-François Pruneau, chief financial officer at the Montreal-headquartered airline, during the company's first quarter earnings call on Wednesday.
"What we're also doing is currently raising fares on peak travel dates and routes where we see less competition, where we have more flexibility," he told investors.
Several international airlines have added fuel surcharges — an extra fee tacked onto airfare to cover unforeseen oil costs — to account for a spike in jet fuel prices since the U.S. And Israel attacked Iran on Feb. 28, the start of a regional war that has disrupted the global supply of oil.
Air New Zealand, Australia's Qantas Airways and Scandinavian Airlines have all announced that they would be hiking passenger fares.
Japan Airlines said it has "no plans" to bring forward fuel surcharge changes before April 1, as it evaluates those costs over a two-month period.
Other international airlines, like Lufthansa and Ryanair, have confirmed that they have a hedging system in place to temporary lock fuel prices in.
How is the Middle East war impacting global travel? | Hanomansing Tonight
Air Transat's Pruneau told investors tickets that have already been sold can be repriced, and said that if the company were to raise fares immediately it would see "a negative impact on demand."
Air Transat is also looking at other ways to save costs, "including restricting our expenses across the company to make sure that we're going to be able to deal with that fuel spike," he said.
The cost of jet fuel tends to be an airline's biggest expense, and it has soared since the conflict began. According to a price tracker published by the International Air Transport Association, the cost of jet fuel skyrocketed 58.4 per cent between Feb. 27 and March 6, from $99.40 US to $157.41 US per barrel.
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