.jpg)
1 hour ago
4
Article content
Transat Inc. is altering its summer travel schedule to reduce flights by six per cent as the airline industry battles an “unprecedented aviation fuel crisis” brought on by the war in Iran.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
To cut costs, Transat has trimmed its flight frequency to the Caribbean and Europe. It also extended its service suspension to Cuba until at least October.
Article content
Article content
“The recent volatility in aviation fuel prices reflects an exceptional environment affecting the entire sector,” Transat chief executive Annick Guérard said in a release.
Article content
Article content
“We are closely monitoring the situation, as cost pressures continue to be felt across the industry,” she said. “We will continue to optimize our program based on demand, which remains strong. Additional measures may be implemented depending on how the situation evolves, beyond our control.”
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Affected customers are being contacted to discuss alternate arrangements, the airline said.
Article content
Worldwide jet fuel prices reached US$4.39 per gallon this week, up 105 per cent compared to last year’s average, according to the International Air Transport Association.
Article content
The price surge had airfares up 2.9 per cent year over year in March, according to Statistics Canada, marking the first price jump since June 2024.
Article content
“With jet fuel prices spiking significantly since the end of February, much of the increase is likely being driven by airlines passing on some of the increased costs through higher airfares, with most airlines having already implemented fuel surcharges,” National Bank analyst Cameron Doerksen said in a note to clients.
Article content
In addition to adding fuel surcharges to airfares, several Canadian airlines have already trimmed their flight schedules in response to the added costs.
Article content
Article content
WestJet Airlines has cut its network by three per cent in May and 5.5 per cent in June, the airline told the Calgary Herald.
Article content
Article content
Meanwhile, Air Canada temporarily suspended routes to New York’s JFK airport and Salt Lake City. It has also suspended a planned launch of a route between Guadalara, Mexico and Montreal.
Article content
Air Canada is also planning to suspend routes between Fort McMurray and Vancouver, and from Yellowknife to Toronto later this summer.
Article content
Article content
With files from Denise Paglinawan and the Calgary Herald
Article content
English (US)