Global airlines could go bankrupt as jet fuel costs soar during Iran war, billionaire jet tycoon warns
Tamara Ceaikovski
A billionaire Dubai-based jet tycoon is warning that global airlines could soon go bankrupt as the Iran war squashes travel demand and sends jet fuel prices soaring worldwide. Avia Solutions Group Chairman Gediminas Ziemelis said he’s planning to shift a chunk of his business’ 145 jets from Europe to Asia and Brazil as the Middle East conflict grounds flights and wipes out demand in Europe – similar to the COVID pandemic. “We need to be ready for any area, district, jurisdiction and
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