Asia Airlines Hike Fares, Eye Groundings on Fuel Crunch Risk

Airlines in Asia are raising ticket prices and mapping out contingency plans that include grounding planes as the escalating Middle East conflict threatens to trigger the worst oil shock since the 1970s.

Indian carriers have hiked prices on long-haul routes by 15% and are considering further increases, people familiar with the matter said. In Vietnam, state media warned airfares could increase as much as 70% given the country’s reliance on imported jet fuel.