ITA Airways is preparing to raise ticket prices by between 5% and 10% this year as soaring fuel costs linked to the conflict involving Iran, Israel and the U.S. continue to pressure airlines worldwide.
The Italian national carrier said it has no plans to reduce flights despite the sharp increase in jet fuel prices. Chief executive Joerg Eberhart said the company has already secured around 80% of its fuel needs for the rest of the year through hedging agreements.
Airlines across Europe and Asia have been grappling with rising operating costs and disrupted flight routes as tensions in the Middle East affect global aviation and energy markets. Several carriers have introduced fuel surcharges, adjusted schedules and revised financial forecasts in recent months.
Speaking to reporters in Rome, Eberhart said the scale of the increase in fuel prices had created significant challenges for the industry.
“Fuel now costs twice as much as it did before the crisis,” he said. “Jet fuel accounts for some 30% of our total costs. Without hedging we would have to increase prices by 30%, and this would be difficult.”
The airline, which is controlled by Lufthansa, said it is also exploring other ways to offset higher costs. These include improving fuel efficiency, modernising its fleet and expanding long-haul services, particularly in Asia, where travel demand remains strong despite disruption elsewhere in the region.
As part of that strategy, ITA Airways plans to lower the average age of its aircraft by introducing newer, more fuel-efficient jets.
The carrier has also been forced to suspend flights to Tel Aviv, Riyadh and Dubai until the end of the month because of instability in the region. Eberhart said the airline could lose around €10 million ($11.7 million) if all three routes remain closed for the rest of the year.
Despite the ongoing disruption, the airline said it does not currently expect to change its broader business strategy.
Eberhart added that oil markets could take at least six months to stabilise after the conflict ends, but said the company believes most additional fuel costs can be absorbed through a combination of higher fares and hedging protections.
Attention is also turning to the future ownership of ITA Airways. Lufthansa currently owns 41% of the airline, while the remaining stake is held by Italy’s Economy Ministry.
Under an agreement signed with Rome, the German group has the option to increase its stake to 90% from June 2026.
Eberhart said closer integration with Lufthansa would strengthen ITA’s position within the wider group, particularly on South American routes, where the airline already operates an extensive network.
European leaders gathered in Dublin on Thursday, 12 November, for the ninth European Political Community (EPC) summit, with security, defence and e...
Afghan and Russian businesses signed 15 trade agreements worth $103 million in Kabul on Thursday during a visit by Russian Deputy Prime Minister Al...
Rising demand for air cargo and expanding international aviation networks are opening up new trade opportunities for Central Asia and the South Cau...
UN Secretary-General António Guterres delivered a stark warning at this year's COP31 summit, saying the climate crisis iss advancing faster than governments' efforts to contain it.
European leaders gathered in Dublin on Thursday, 12 November, for the ninth European Political Community (EPC) summit, with security, defence and energy high on the agenda. Azerbaijani President Ilham Aliyev held talks focused on peace, trade and regional cooperation.
Here's your AnewZ Daily Brief for 11 November. Today, we cover Russia-Ukraine peace talks, political tensions in Washington, strikes in Spain, espionage allegations involving Nvidia's CEO, and climate negotiations at COP31 in Türkiye.
Iran will not let a single particle of its enriched nuclear material leave the country, and any new U.S. attack would be met with strikes on distant American bases, Iranian security chief Mohsen Rezaei has said.
Four million workers across Spain joined a general strike on Wednesday over the country’s deepening housing crisis, unions said, bringing disruption to factories, ports, shops and public transport just weeks before a snap general election.
Kazakhstan’s Air Astana is accelerating its expansion across Asia, with plans to double its flights to China again within the next one to two years. What began as a response to disruption in the Middle East has now become a long-term growth strategy.
A village in Indonesia’s Gorontalo province has become a tourist destination for whale shark encounters, bringing new income to local residents but raising concerns about the impact of feeding and frequent human interaction on the endangered species.
Azerbaijan's first Gabala Gastronomy Summit has brought chefs, local producers and international experts together to explore how traditional cuisine can attract tourists, extend stays and strengthen the region's appeal as a year-round destination.
Azerbaijan Airlines (AZAL) carried 419,000 connecting passengers through Baku in the first nine months of 2026, up 29 per cent year on year, highlighting the capital's growing role as an international aviation hub.
Azerbaijan is seeking to attract more European visitors by improving air connectivity and raising its profile as an international tourism destination, with a new direct route between Brussels and Baku expected to support those efforts.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment