What the Iran war and Strait of Hormuz closure means for United Airlines fares

• United Airlines may increase fares by up to 20% to offset soaring fuel prices, which CEO Scott Kirby aims to recover in full.
• Fuel costs have doubled due to the Iran war and the closure of the Strait of Hormuz, a critical oil-shipping lane.
• Kirby warned that sustained high oil prices could lead to airlines failing, estimating an additional £11bn annual expense for United.
• In response to rising costs, Lufthansa has cancelled 20,000 flights, and the EU is implementing measures to prevent a summer fuel shortage.
• The Strait of Hormuz remains unstable, with Iran seizing two container ships following President Donald Trump's ceasefire announcement, and potential months-long mine clearance.

IN FULL

United Airlines may raise fares by 20% as airlines struggle with fuel price surge amid Iran war