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A sharp rise in jet fuel prices driven by war-related disruptions involving Iran is projected to significantly erode the global airline industry’s profitability in 2026, even as passenger demand and revenues continue to climb to record levels, according to the latest industry outlook from the International Air Transport Association (IATA), which represents 370 airlines responsible for about 85% of global air traffic. The industry body forecasts that airlines worldwide will

European governments are once again facing mounting pressure to impose windfall taxes on oil and gas companies after the continent’s biggest energy firms posted soaring first-quarter profits driven by the Middle East conflict and the resulting spike in global energy prices. Major European energy companies benefited heavily from volatility in oil markets following disruptions linked to the war involving Iran. The instability sent crude prices sharply higher and created luc