• Global airline profits expected to be cut in half due to jet fuel crisis.
• IATA forecasts $23 billion in net profit for 2026, down from $41 billion.
• Spirit Airlines has already folded, and other carriers may follow.
• US airlines spent $5.06 billion on jet fuel in March, up from $3.88 billion last year.

The jet fuel crisis may indicate a significant shift in the airline industry, with budget carriers potentially facing bankruptcy or acquisition. This could lead to consolidation and higher fares, which may benefit larger airlines but harm consumers. The crisis suggests that the industry's profitability is highly sensitive to fuel costs, which could have long-term implications for the sector.