Airline ticket prices have increased by an average of 30% as a result of rising jet fuel costs, according to Levan Osepaishvili, Director of Check-In Travel. Speaking to BM.GE, he noted that the impact has been most severe on long-haul destinations such as the United States and China. Travel agencies, he explained, cannot influence airfare pricing since fares are set entirely by airlines and fluctuate proportionally with fuel prices.
Osepaishvili said the latest spike in fuel costs was triggered by geopolitical tensions in the Middle East, particularly Iran’s threat to block the Strait of Hormuz, one of the world’s most critical oil transit routes. This led to an immediate increase in jet fuel prices, with noticeable changes emerging over the past two weeks. According to him, expectations remain negative for now as prices continue to climb daily, though he hopes the situation stabilizes soon.
The war in the Middle East initially caused uncertainty and fear across the tourism industry, resulting in a wave of booking cancellations. However, Osepaishvili reports that customer behavior has recently shifted, with demand gradually recovering despite higher prices. The market, he says, is no longer experiencing the near-standstill that occurred between early and late March; bookings have resumed, mostly for safer destinations in Europe.
Asia-bound travel, however, remains almost completely halted. Many travelers previously relied on transit hubs served by airlines such as Air Arabia, FlyDubai, and Qatar Airways, but demand for these carriers has dropped to nearly zero since the conflict began. This, in turn, has driven prices higher on other airlines. As a result, travelers who had planned to visit Asia are now choosing destinations in Europe or Egypt. Meanwhile, global jet fuel prices have surged sharply - rising 12.5% in just the past week. Compared with $96 per barrel in late February, the current global average stands at $197, with Europe seeing the highest prices at around $215 per barrel.
