Jet fuel prices are expected to be 70 per cent higher year on year in 2026

The annual industry meeting comes as airlines also battle a shortage of new aircraft.

Soaring jet fuel prices from Middle East tensions are straining airlines, increasing bankruptcy risks and likely accelerating industry mergers, according to IATA's latest warning.

The global airline industry has significantly lowered its 2026 profit forecast due to rising fuel costs and disruptions from the Iran war. Airlines are now expected to earn $23…