Airline Ticket Prices at Risk of Rising 9% as Oil Market Spikes

The cost of plane tickets may jump as much as 9% as oil prices soar in the aftermath of the Middle East war, according to the leading aviation industry group.

“You’re looking at probably an 8% or 9% increase” in airfares, Willie Walsh, director general of the International Air Transport Association, said while attending a conference in Lima. “It’s inevitable that if oil prices remain high, then you will see higher ticket prices.”

Brent, the global oil benchmark, surged above $101 a barrel Thursday as two tankers were hit in Iraqi waters, the latest in a string of attacks ...