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KLM axes European flights due to rising fuel costs
(Sharecast News) - Dutch airline KLM said it had been forced to cancel more than 150 European flights due to the rising cost of jet fuel amid the Iran war and Hormuz strait blockade. The airline will not operate 80 return flights out of Amsterdam's Schiphol airport over the next month, adding that they were "currently no longer financially viable to operate" due to rising kerosene costs.
Jet fuel prices have rocketed since the US and Israel started their war of choice on Iran, which then expanded to include Lebanon. Oil supplies through the vital strait, through which 20% of crude oil transits, have virtually ground to a halt.
"KLM expects a busy May holiday period and is making sure passengers can travel to their holiday destinations as planned," the airline said.
On April 9, it confirmed the cancellation of all flights to and from Dubai until June 14 due to "uncertainties" in the Middle East.
Reporting by Frank Prenesti for Sharecast.com
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