Air Canada halts all summer flights to New York’s JFK airport due to soaring fuel prices caused by the situation in Iran

(SeaPRwire) –   Due to the conflict in Iran causing jet fuel shortages and driving up costs, Air Canada is halting its flights to JFK International Airport in New York for the summer season.

On Friday, the Canadian flag carrier announced that flights from Toronto and Montreal to JFK would stop on June 1 and restart on October 25. Operations at LaGuardia and Newark, the other two airports serving the New York area, will remain active. Currently, Air Canada operates 34 daily flights to these two airports originating from six cities across Canada.

Air Canada stated that it intends to contact affected passengers to provide them with different travel arrangements.

A representative for the Montreal-based airline commented on Friday, “Since the onset of the Iran conflict, jet fuel costs have doubled, making certain less profitable routes and flights unsustainable; consequently, we are adjusting our schedules.”

Data from Argus Media indicates that the average cost per gallon of jet fuel climbed to $4.32 on Thursday, a significant increase from the $2.50 recorded prior to the outbreak of war in Iran.

Following Iran’s announcement that the Strait of Hormuz has reopened for commercial vessels transporting oil from the Persian Gulf to global markets, oil prices fell by over 10% on Friday.

For airlines, fuel and labor usually represent the biggest yearly expenditures. Earlier this month, Delta Air Lines projected that rising fuel prices would increase its second-quarter expenses by $2 billion. To counteract surging fuel costs, carriers such as JetBlue and United Airlines are hiking baggage fees. Meanwhile, airlines like Lufthansa and KLM have been forced to reduce their flight schedules because high fuel prices have made some routes unviable.

During an exclusive interview with the Associated Press on Thursday, Fatih Birol, the Executive Director of the International Energy Agency, warned that Europe might only have jet fuel reserves left for “maybe six weeks” and described the situation as the “largest energy crisis” facing the global economy.