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Lufthansa cuts 20,000 flights to curb soaring fuel costs

New York Times Business •
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Lufthansa Group will slash 20,000 flights over the next six months to conserve jet fuel, the carrier said Tuesday. The cuts, already applied to routes through May, are projected to spare roughly 40,000 metric tons of fuel by the end of October. Management also confirmed it has secured enough supply for the coming weeks in its operations across Europe.

The cuts come as the Strait of Hormuz remains closed, choking a key artery for energy shipments. Europe absorbs about 41 % of jet‑fuel imports that pass through the strait, and the Platts index shows prices have surged more than 70% since the February conflict began. IEA chief Fatih Birol warned the bloc holds only six weeks of fuel reserves currently.

Rival carriers are feeling the pinch too. Ryanair disclosed its fuel suppliers can guarantee supplies only through May, while KLM is trimming 80 return flights to Amsterdam to curb costs. Investors will watch how Lufthansa’s route rationalisation and the grounding of 27 CityLine jets affect its operating margin, which now hinges on tighter fuel budgeting for the upcoming quarter period.