Lufthansa Cuts 20,000 Flights

Lufthansa's decision to slash 'unprofitable' routes is expected to save approximately 40,000 metric tons of jet fuel as the industry grapples with an unprecedented supply shock.

Other major carriers, including Air Canada and WestJet, have also begun trimming schedules and raising airfares by as much as 25%.

Aviation experts warn that holidaymakers across Europe should expect widespread cancellations and should prepare 'Plan B' contingencies for summer travel.

The crisis has been exacerbated by the closure of the Strait of Hormuz, forcing airlines to take longer, more expensive flight paths.