U.S. airlines spent $6.5 billion on airplane fuel in April, another sign of the economic damage wrought by the U.S.-Israeli war with Iran.The total is over double what airlines reported paying back in February. The Department of Transportation reported that airlines collectively paid $3.23 billion in February, while in March they paid $5.06 billion. The newest fuel costs came from the International Air Transport Association, causing it to revise its industry projections.The organization now estimates airlines will make a combined net profit of $23 billion in 2026, down from its previous forecast of $41 billion. Airlines collectively made $45 billion in net profit in 2025.
“Airlines are bearing the brunt of the fuel price shock,” Willie Walsh, director general of IATA, said in a statement. “While airfares are rising, airlines are still absorbing part of the hike in their bottom lines.”
The price per gallon for aviation fuel rose from $2.39 in February to $3.13 in March and $4.11 in April.
Airlines have struggled to cope with the increased fuel costs, triggered by a global energy shock driven by the blockade of the Strait of Hormuz, through which nearly one-fourth of global oil exports flow.
