- Major European airlines have warned fares may rise if the surge in fuel prices persists.
- The airlines urged passengers to book early to avoid extra costs, amid fears their fuel hedging strategies, in which companies lock in future fuel prices, will unwind in the case of a protracted war.
- Lufthansa Group CEO Carsten Spohr, speaking alongside other airline leaders in Brussels, said it had added 40 flights to Asia to compensate for disruption to Gulf carriers but demand could be affected by higher fuel charges and fares.
- The warning comes as the price of benchmark Brent crude rose to above $114 a barrel Thursday after reaching $119.
- Gas prices in Europe were double the level seen in late February before the U.S. and Israel launched their war on Iran.
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