American Airlines says soaring price of jet fuel will cost it $4bn this year
The soaring price of jet fuel will cost American Airlines another $4bn this year, the carrier has said, wiping out forecast profits,The airline, the world’s largest by passengers flown, said that the fuel crisis from the US-Israel war on Iran could push it into losses during 2026, having forecast profits approaching $1,8bn before bombing started,The price of jet fuel has more than doubled since the conflict began at the end of February,While many European airlines have hedged their fuel, locking in a purchase price for months or years ahead, American carriers have been exposed to the price rises.
The airline will look to offset the costs with higher fares, saying its revised guidance “assumes continued revenue improvement in the domestic entity, growth in corporate customer volumes and the ability to partially recapture elevated fuel prices”,American Airlines exceeded forecasts and reported record revenues during much of the first quarter of 2026, totalling $13,9bn,Jet fuel prices in the US are slightly lower than in Europe, at about $4 a gallon,Airlines globally are facing rising fuel prices, with some such as Virgin Atlantic having already attached fuel supplements to their fares, starting at £50 extra in economy for a long-haul flight.
However, faltering consumer confidence in the face of the wider expected oil shock may also mean airlines struggle to pass on widespread higher fares.Globally, the guaranteed availability of fuel, as well as price, is a looming concern.Airlines in the UK have said they have six weeks visibility of supplies, which is the usual horizon, but the closure of the strait of Hormuz and the Iranian and US blockades has placed the longer-term flow of fuel in jeopardy.It emerged this week that UK airlines have been lobbying the government for a contingency measures, despite publicly maintaining confidence in supplies.The demands include lowering taxes and easing regulations on night flights, airport slot retention and passenger compensation should shortages start to affect operations.
The head of the International Energy Agency, Fatih Birol, repeated warnings on Thursday that Europe would face a summer of disrupted flights if it could not locate sufficient new supplies from the US and Nigeria.Lufthansa this week cancelled 20,000 short-haul flights due to fuel prices, and Birol said the disruption had “just started”, adding: “In August, jet fuel demand is 40% higher than in March.”
UK consumer confidence falls as people get ‘the jitters’; BP’s new chair suffers investor revolt – business live
Breaking: UK consumer confidence has fallen for the third month in a row, as people grow more nervous about their personal financial situation and the economy.Data provider GfK’s Consumer Confidence Barometer, just released, has fallen by four points to -25 in April, the biggest drop in a year.That’s the lowest level since autumn 2023, indicating that the disruption and high energy prices caused by the Iran war is alarming consumers.When asked about the UK economy, the measure for the country’s general economic situation over the last 12 months decreased by eight points to -51. Expectations for the general economic situation over the coming 12 months fell by six points to -43, GfK reports
American Airlines says soaring price of jet fuel will cost it $4bn this year
The soaring price of jet fuel will cost American Airlines another $4bn this year, the carrier has said, wiping out forecast profits.The airline, the world’s largest by passengers flown, said that the fuel crisis from the US-Israel war on Iran could push it into losses during 2026, having forecast profits approaching $1.8bn before bombing started.The price of jet fuel has more than doubled since the conflict began at the end of February. While many European airlines have hedged their fuel, locking in a purchase price for months or years ahead, American carriers have been exposed to the price rises
Private health records of half a million Britons offered for sale on Chinese website
The confidential health records of half a million British volunteers have been offered for sale on Chinese website Alibaba, the UK government has confirmed.The data, belonging to participants in the UK Biobank project, was found for sale on three separate listings last week. The records have now been removed and it is not believed any sales were made.The latest breach comes after the Guardian revealed last month that UK Biobank data had been exposed online dozens of times and will raise further questions about whether security has been too lax.Ian Murray, the technology minister, told the Commons: “On Monday 20 April, the UK Biobank charity informed the government that it had identified their data had been advertised for sale by several sellers on Alibaba’s e-commerce platforms in China
Some Interrail travellers told to cancel passports as hacked data posted online
Holidaymakers across Europe are facing the stress and expense of getting new passports after their personal data was posted on the dark web after a hack of the Interrail company Eurail.Personal data, including passport numbers, names, phone numbers, email and home addresses and dates of birth of more than 300,000 European travellers was accessed in December. But this week Eurail revealed to customers that “data copied during the security incident has been offered for sale on the dark web and a sample dataset has been published on Telegram”.The announcement has led to renewed anger and confusion. The UK Passport Office has told at least one customer they needed to “cancel their passport to prevent it being used for fraudulent activity”, with the Home Office agency also indicating they needed to pay the full £102 fee for a replacement
Sportradar’s share price falls after reports claim it had links to hundreds of illegal gambling sites
The betting and data company Sportradar has relationships with hundreds of illegal gambling operators including several that appear to operate in Iran and Russian-occupied Crimea, a new report alleges.A study compiled by the financial analysts Callisto Research claims to have identified more than 270 unlicensed betting companies offering a variety of services including sports betting, virtual gaming and crypto casinos that purport to be products of Sportradar, whose branding and tools are visible on many of their websites. Callisto Research is an activist research firm that has disclosed short selling Sportradar stock after releasing its report.Sportradar AG is listed on the Nasdaq and its share price dropped as much as 30% following the publication of Callisto’s report on Wednesday, before closing the day 23% down on the start of trading.Sportradar makes its money from distribution deals that enable it to both service and police the gambling industry
‘Worth a thousand words’: Trump photo obscuring women’s tennis team sparks backlash
A White House photo celebrating a champion women’s sports team has drawn backlash due to the positioning of Donald Trump and a group of men, who overshadowed the female athletes by lining up in front of them.The University of Georgia women’s tennis team was one of several collegiate teams to visit the White House on Tuesday to mark a recent NCAA championship win. In a photo shared by press aide Margo Martin, Donald Trump and five Georgia staffers and coaches took up the front row of a stage setup, with 11 women standing in the background on a riser.The men standing alongside Trump were, from left to right: Georgia deputy athletic director Ford Williams, athletic director Josh Brooks, head coach Drake Bernstein, associate head coach Jarryd Chaplin and assistant coach Will Reynolds.“A photo is worth a thousand words …” former tennis star Martina Navratilova wrote on X
Parents: have you noticed younger children wanting to try skincare products?
One person diagnosed with cancer every 80 seconds in UK, report reveals
HRT maker censured by UK regulator for ‘systemic failures’ that put patients at risk
‘This is our moment as British Muslims’: MCB leader takes inspiration from New York mayor
Temporary accommodation linked to deaths of 104 children in England in six years
Bill banning people born after 2008 from buying tobacco clears UK parliament