Virgin's Branson has said increases in flight prices are being driven by the impact of conflict and tension on global fuel supplies, arguing that wars started by “foolish leaders” are pushing up costs for airlines and passengers.
His comments come as tensions in the Middle East have disrupted the production and movement of oil. That pressure has contributed to higher prices for both road fuel and aviation fuel, adding costs across transport sectors.
Jet fuel is a major operating expense for airlines, meaning sharp rises in energy prices can feed through into the cost of air travel. Branson linked the pressure on fares to the wider effect of conflict on oil markets and fuel supply chains.
The rise in fuel costs is not limited to aviation. The same pressures have also been reflected in higher car fuel prices, underlining the broader economic impact of disruption to oil production and transportation.
The latest position set out by Branson is that flight price rises are connected to geopolitical instability and its consequences for fuel markets. No further details were provided in the supplied material on specific fare increases, routes, airline decisions or any policy response.
