Airlines begin to hike fares due to higher fuel prices, shares stabilise

Air New Zealand said ‌on Tuesday it has raised fares due to the Middle East conflict and may take further pricing action, underscoring how global airlines will seek to pass on the costs of higher oil prices to passengers.Jet fuel prices, which were around $85 to $90 per barrel prior to the conflict, have increased sharply to between $150 and $200 per barrel in recent days, New Zealand's flag carrier said, adding it was ‌suspending its financial outlook for 2026 due to uncertainty over the conflict.The U.S.-Israeli war on Iran has sent oil prices surging, upending global travel and sparkin…READ FULL ARTICLE