Qantas, Scandinavian Airlines (SAS) and Air New Zealand announced increases in airfares on Tuesday, citing a sudden spike in jet fuel costs caused by an escalating conflict in the Middle East. The three major airlines said soaring energy prices have significantly increased operating costs, forcing them to pass on some of the burden to passengers by raising ticket prices. Airlines are particularly sensitive to fuel price fluctuations because fuel typically accounts for a large portion of operating expenses.
