Iran Conflict Disrupts Global Airline Operations And Margins
Alaska Air Group has withdrawn its full-year profit forecast due to a sharp rise in jet fuel costs tied to the Iran war, which is pressuring margins and darkening the outlook for the rest of the year. The airline expects its second-quarter fuel bills to increase by about $600 million, equivalent to a profit per share headwind of $3.60. Alaska Air posted an adjusted loss of $1.68 per share for the quarter ended March 31, bigger than analysts’ expectations. This development was reported by Reuters.