Lufthansa Cuts 20,000 Flights

The cancellations represent a 1% reduction in the group's total passenger capacity and will primarily affect its regional carrier, CityLine.

Lufthansa stated that jet fuel costs have doubled since the outbreak of the Iran war, forcing the company to axe unprofitable routes to save over 40,000 metric tons of fuel.

This move follows similar service reductions by other major European carriers struggling with the closure of regional airspace.

The airline industry is warning that continued instability in the Strait of Hormuz could lead to further fare hikes and route closures this summer.