March 30 : Global airlines have begun to hike fares and cut capacity to cope with the sudden surge in the oil price, but the industry's ability to remain profitable may depend on whether consumers pull back on flying as gasoline costs threaten household budgets. Before the U.S.-Israeli conflict with Iran began last month, the airline industry had forecast record profits of $41 billion in 2026, but a doubling in jet fuel prices has placed that at risk and forced carriers to rethink their