Rallying Oil Prices Are A Headache For Airlines

As if the airline sector needed another trouble on top of the reduced travel demand due to the pandemic, oil prices at their highest in a year are set to raise jet fuel costs for the industry that has been suffering a lot from the lockdowns, flight bans, border closures, and quarantines with COVID-19.

Oil prices hit a one-year high this week amid signs of a tightening oil market and risk appetite from investors and speculators. Higher crude oil prices, however, mean higher fuel prices for airlines, which have been one of the worst-hit industries…