Plane ticket prices soar due to Iran war: how does this affect travellers from Hungary and Wizz Air?

The escalating conflict involving Israel, the US and Iran, and its regional consequences are already driving up air travel costs worldwide, with experts warning that ticket prices may continue rising for months. Airlines across Asia, Europe and Oceania have begun increasing fares as jet fuel prices surge after disruptions to oil supplies.

The situation could also have a significant impact on Hungary’s aviation sector, particularly the Budapest-linked low-cost carrier Wizz Air.

Oil shock pushes airlines to raise ticket prices

Airlines around the world are responding to rapidly rising fuel costs caused by the US and Israel’s war in Iran. Attacks on refineries and disruptions to shipping routes have pushed global oil prices sharply higher.

A major concern is the potential closure of the strategic Strait of Hormuz, through which a large share of the world’s oil exports normally passes. If shipments cannot leave the Persian Gulf, global fuel markets tighten quickly.

Before the escalation, aviation fuel traded at roughly USD 85–90 per barrel. Analysts now warn prices could exceed USD 150–200 in the coming weeks, according to AP.

Fuel typically accounts for around 20–25% of airline operating costs, and the proportion can be even higher for long-haul flights. As a result, carriers have little choice but to pass the rising expenses on to passengers.

Airlines worldwide introduce surcharges

Several airlines have already announced fare increases or temporary fuel surcharges.

According to Euronews, among those adjusting prices are:

• Cathay Pacific
• AirAsia
• Thai Airways
• Qantas
• Air New Zealand
• Scandinavian Airlines (SAS)

Meanwhile, the airline group Air France-KLM has indicated that long-haul ticket prices could increase by around EUR 50.

Some carriers that secured fuel prices earlier through hedging agreements (such as Lufthansa and Ryanair) may be partially shielded in the short term. However, these contracts only cover a portion of fuel needs and usually expire within months.

Industry experts say fare increases are therefore almost inevitable.

Flight cancellations and longer routes add further pressure

The conflict is also affecting flight schedules and routes. Airlines are increasingly avoiding Middle Eastern airspace, forcing planes onto longer detours that burn more fuel.

Several carriers have suspended flights to the region or cancelled thousands of services. For example, Air New Zealand has cancelled about 1,100 flights between March and early May, affecting roughly 44,000 passengers.