IATA forecasts a $350 billion airline fuel bill for 2026, according to Al Jazeera. The global airline industry has cut its 2026 profit forecast sharply, nearly a half, as reported by Daily Sabah, and Daily Sabah attributes the profit‑forecast cut to the conflict in the Middle East that has driven up fuel prices.

Rising fuel prices linked to the Middle East conflict are putting pressure on airlines worldwide, forcing carriers to raise fares, cut flights and revise growth plans, and causing industry profit expectations to deteriorate, reported by GDELT. GDELT also notes that disruptions linked to the conflict involving Iran have pushed up oil and jet fuel prices, and that much of the shipping traffic through the Strait of Hormuz has remained effectively halted since fighting began earlier this year.

U.S. airlines spent nearly $6.5 billion on jet fuel in April 2026, a 78 % increase from about $3.6 billion a year earlier, according to GDELT. The same source reports that U.S. carriers used 1.573 billion gallons of fuel in April 2026, compared with 1.575 billion gallons in the same month the previous year.

Indian airlines anticipate a 10‑15 % drop in operating profits this fiscal year, reported by Times of India. Airline profits are projected to dip to their weakest margin since the COVID‑19 years, according to Al Jazeera.