Everyone's Still Flying, but Prices Are Surging Amid War

Booking a flight? Expect to pay more, but still expect plenty of company on board. Major US airlines say surging jet fuel costs, driven up roughly 50% since the war in Iran began on Feb. 28, are forcing them to hike fares, especially for last-minute trips by business travelers, reports the New York Times. American, United, and Delta each peg their added fuel tab at about $400 million this quarter, yet those airlines aren't trimming profit forecasts thanks to what Delta CEO Ed Bastian calls strong demand "in every market that we look at," from corporate to leisure travelers.

Deutsche Bank data show that next-day international fares that averaged about $830 across the Atlantic before the conflict are now closer to $1,900; trans-Pacific jumps are similar, while US cross-country trips are up 16%. Prices for tickets bought three weeks out have also climbed, though Mexico and parts of Latin America are an exception. Airlines are responding with a mix of tactics, such as tweaking fare classes, shrinking the number of cheapest seats, trimming less-profitable routes, and deploying more efficient jets. Unlike many European carriers, most US airlines no longer hedge fuel prices, leaving them more exposed when the price of oil spikes.

Not that the EU isn't feeling some heat, too. "The entire European aviation system is now feeling the pressure from a sudden fuel shock," a statement reads from SAS AB, Scandinavia's largest airline, which says it's slashing some of its routes, per Reuters. Air France-KLM, meanwhile, is planning on raising the ticket price for longer flights to make up for increasing fuel costs.

Yahoo Finance has tips on taking some of the sting out of any upcoming trip's cost, including planning way ahead of time and cashing in credit card points. "For those folks who are traveling in June and July, if you haven't bought your tickets, now's the time to do it, buy a refundable or changeable ticket," one airline expert tells CNN, noting that you can always cancel and rebook later if prices drop.