Lufthansa Cuts 20,000 Flights

The decision primarily affects unprofitable routes within Europe and is expected to save approximately 40,000 metric tons of fuel.

Other major carriers, including Air Canada and WestJet, have also begun trimming their schedules as the cost of jet fuel has more than doubled in some markets.

The European Union is considering a new 'fuel observatory' to prevent member states from hoarding supplies at the expense of others.

Travelers are being advised to prepare 'Plan B and Plan C' for their summer vacations as the industry braces for potential shortages and further price hikes.