European flight prices are falling in short term, Wizz Air boss says

Wizz Air’s CEO says European airfares are falling in the short term as carriers use fuel hedges and temporary price cuts to overcome consumer hesitancy linked to the US-Israel war with Iran. Jet fuel surged from $831/mt on 28 Feb to about $1,800/mt before settling near $1,500/mt, raising costs and the risk of supply disruption after the effective closure of the Strait of Hormuz. Airlines’ hedging commitments mean many are still burning cheaper, pre-conflict fuel, allowing them to cut fares now, but sustained higher fuel prices could keep pressure on margins for carriers and potentially affect related sectors within European equity markets. Spanish officials urge buying tickets early to avoid later price rises. Overall, the piece signals mixed near-term consumer-friendly pricing but continued upward cost pressure that could weigh on airline profitability and market sentiment over the medium term.