The aviation industry is facing its worst crisis since the pandemic. Jet fuel prices have doubled since February when military actions began. The easyJet CEO said the situation is worse than the 2022 price spikes caused by the war in Ukraine.

Lufthansa's average profit stands at just 10 euros per passenger. The top 20 airlines have lost 53 billion dollars in market value. United Airlines has cancelled 5 percent of its flights.

The era of cheap flights is now deeply uncertain.