Airlines hike fares, cut millions of seats as Iran war drives up fuel costs

Kuala Lumpur, Malaysia — Theodore, a retired tech entrepreneur in Malaysia, is usually in no rush to book flights for his family’s annual holiday to South Korea and Japan, preferring to take his time to find the best deals. But this year, the 50-year-old father of three was eager to lock down his travel plans fast amid a surge in jet fuel prices that has led to thousands of flight cancellations worldwide – even if it meant giving up a bargain. Recommended Stories list of 4 items end of list Forgoing his usual choice of a budget airline, he booked seats with Korean Air and Malaysia Airlines last week for August and September, reasoning that the full-service carriers would be less likely to throw his plans into disarray with a last-minute cancellation. “I saw prices going up, saw budget airlines cancelling flights often, and wanted to avoid any friction later on,” Theodore, who asked to be identified by his first name only, told Al Jazeera. “It’s a life quality upgrade to reduce friction and mental cycles on issues like this,” said Theodore, who lives in Cyberjaya, about 30km (19 miles) south of Kuala Lumpur. “And the saying ‘an ounce of prevention is worth a pound of cure’ applies here in terms of potential travel plan disruptions.” As the effective closure of the Strait of Hormuz approaches the 10-week mark amid an uneasy truce between the United States and Iran, global air travel is emerging as a major casualty of elevated oil prices. …