Delta CEO braces flyers for higher fares amid surge in oil prices tied to Iran war

Airline projected a $2bn increase in fuel costs this quarter amid volatility in oil markets sparked by the war

The CEO of Delta Air Lines, Ed Bastian, braced customers for higher fares following the surge in oil prices sparked by the US-Israel war on Iran, amid strong demand from passengers.

Though rising oil prices have cost the company an extra $330m in fuel expenses, and it projected a $2bn increase in fuel costs in the current quarter, Delta forecast that revenue would grow 10% as flyers continue to book flights.