Khaberni - Hebrew media reported that American Airlines has canceled all its flights to Israel until September 7, and last week, shares of United Airlines fell by 1.70%, following the company's announcement of plans to reduce its unprofitable flights over the next two quarters in anticipation of continued rising aircraft fuel prices due to geopolitical tensions in the region.
Global airlines have begun raising ticket prices and reducing operational capacity to deal with the sudden rise in oil prices, but the sector's ability to maintain profitability might depend on whether consumers will stop flying due to the threat of gasoline costs to household budgets.
