Airlines are scaling back expansion plans as the Iran war disrupts jet fuel supplies, sending prices soaring and pushing some Asian carriers into crisis mode. Korean Air, the country's flag carrier, told staff it would shift to emergency mode, cutting costs due to fuel prices expected to hit 450 cents per gallon in April, far above its business plan's 220 cents per gallon baseline. Fuel, accounting for 30% of costs, could more than double if prices stay high. Asiana Airlines will cut 14 flights to China and Cambodia.

Asian airlines' April growth projection fell from 5.8% to 2.8%. Cirium analyst Richard Evans warns cash preservation is key, predicting carriers will cut least profitable routes and ground fuel-inefficient aircraft. Korean Air stated it's seeking cost cuts through emergency management and reviewing flight schedules.