Lufthansa axes 20,000 summer flights

The global airline industry is facing a severe crisis as jet fuel prices reach record highs due to the ongoing conflict in the Middle East.

Lufthansa Group is the latest to respond, scrapping 20,000 unprofitable flights through October to mitigate the financial impact.

Industry analysts warn that Europe may face a total jet fuel shortage by the end of the third quarter if the Strait of Hormuz remains closed.

Travelers are being cautioned to expect significant summer holiday disruption and higher fares as airlines pass these costs on to consumers.