American Airlines says soaring price of jet fuel will cost it $4bn this year

Fuel crisis from Middle East conflict could push carrier into loss as it looks to offset costs with higher fares

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The soaring price of jet fuel will cost American Airlines another $4bn this year, the carrier has said, wiping out forecast profits.

The airline, the world’s largest by passengers flown, said the fuel crisis from the US-Israel war on Iran could push it into losses during 2026, having forecast profits approaching $1.8bn before bombing started.