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Tue, 31 Mar 2026

Tue, 31 Mar 2026 Korean Air takes emergency action as fuel prices soar

Many airlines are taking measures to deal with the economic impact of the Iran war.

* Korean Air has moved into emergency management mode due to rising jet fuel costs, which have surged by over 50% since the Iran war began.
* The airline will implement internal cost-reduction measures to manage its finances and ensure stability in the face of global economic uncertainty.
* Asian airlines are dealing with a "double shock" of rising global oil prices and a regional jet fuel shortage.
* Korean Air employees were notified about the emergency measures through an internal memo, which stated that the airline is preparing for a surge in fuel expenses.
* Other airlines in Asia, including Cathay Pacific, China Eastern Airlines, and Singapore Airlines, have also implemented measures to deal with the rising fuel costs.
* Some airlines, such as Japan's ANA, have said they will not raise fuel surcharges, while others, like Singapore Airlines, have increased fares to defray but not fully cover the increase in costs.
* The Philippines has declared a state of national energy emergency due to the Iran war, and President Ferdinand Marcos has warned that grounding planes is a "distinct possibility".
* Experts say larger airlines will generally have more options to deal with the impact of the energy crunch, while smaller carriers are likely to be hit hardest.