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Estimated Q1 2026 Fuel Cost Increase by Airline
Comparison of additional fuel expenses reported by major US carriers in the first quarter of 2026.
Primary Sources
Jet Fuel Price Surge Amid Iran War Threatens US Airlines, Earnings and ...
Surging jet fuel prices due to the Iran war have doubled costs, forcing US airlines to hike fares 15% and baggage fees, risking Spirit Airlines liquidation and broader economic drag on travel spending.
Jet Fuel Costs Wiped Billions From Airlines' Bottom Lines In Q1
ToplineAirlines’ first-quarter earnings reports reveal how soaring jet fuel prices are draining billions from U.S. carriers, even as they post record revenue.Airline chiefs: United Airlines CEO Scott Kirby, American Airlines CEO Robert Isom, Delta Air Lines CEO Ed Bastian, JetBlue Airways CEO Joanna Geraghty and Southwest Airlines CEO Robert Jordan. (Photo by Win McNamee)Getty ImagesKey FactsAll the “big four” airlines—American, Delta, United and Southwest—reported record Q1 revenue, but the gains were offset by higher jet fuel costs and American and Delta ended up in the red.United Airlines and American Airlines this week cut their 2026 forecasts due to higher jet fuel costs, while Southwest Airlines held off updating its full-year guidance.American Airlines told investors its jet fuel bill will increase by $4 billion in 2026, while Delta Air Lines said its fuel bill will be $2 billion higher in the second quarter alone.Jet fuel will be “a billion dollar headwind” in the second quarter, Southwest Airlines CEO Bob Jordan told investors on Thursday.Jet fuel was $4.23 a gallon Wednesday on the Argus U.S. Jet Fuel Index—up 69% since the U.S. and Israel launched airstrikes on Iran more than seven weeks ago.The Dow Jones U.S. Airline Index was down 8% Thursday compared to before the Iran war began.Crucial Quote“The increase in jet fuel prices kept this from being a profitable quarter,” American Airlines finance chief Devon May told investors Thursday. The company reported spending an additional $400 million on jet fuel in the first quarter—an extra expense that landed almost entirely during the month of March, after the Iran war began.Big NumberSix. That’s how many “broad, industry-wide fare moves,” also known as airfare hikes, have happened since the Iran war broke out nearly eight weeks ago, according to Southwest Airlines.Survival Of The FittestDomestic airlines are “a bit more insulated” from jet fuel spikes than carriers in other countries because the U.S. produces 13 million barrels of oil a day and imports roughly four million barrels a day from Canada, Patrick De Haan, GasBuddy’s head of petroleum analysis, told Forbes. Even so, jet fuel costs are bleeding U.S. airlines’ bottom lines. The three most vulnerable carriers are budget airlines Frontier and JetBlue, which have struggled to be profitable since the Covid pandemic, and ultra low-cost carrier Spirit Airlines, which is operating under Chapter 11 bankruptcy and in “advanced stages” of negotiating a...
The jet-fuel surge is making global flight connections disappear
Airline passengers should brace for more aggravation in the next few months as carriers around the world deepen cancellations and ground planes to cope with stratospheric increases in jet-fuel prices.
Jet fuel shortage: All the airlines cancelling flights and adding extra ...
United Airlines and Lufthansa are the latest airlines forced to mull raising air fares and scrapping flights following a dramatic surge in jet fuel prices, driven by the U.S.-Israeli conflict with ...
